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21-Aug2017

IOC trades higher on the buzz to explore overseas markets for lubricant business

Indian Oil Corporation is currently trading at Rs. 434.40, up by 7.60 points or 1.78% from its previous closing of Rs. 426.80 on the BSE.

The scrip opened at Rs. 433.00 and has touched a high and low of Rs. 438.00 and Rs. 431.45 respectively. So far 82601 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 450.65 on 16-May-2017 and a 52 week low of Rs. 269.58 on 23-Aug-2016.

Last one week high and low of the scrip stood at Rs. 438.00 and Rs. 410.70 respectively. The current market cap of the company is Rs. 210843.39 crore.

The promoters holding in the company stood at 57.34%, while Institutions and Non-Institutions held 17.34% and 25.32% respectively.

Indian Oil Corporation (IOC) is reportedly aiming to explore overseas markets for its lubricant business by increasing its presence in 27 countries currently to about 50 countries in the next decade. The company is mainly looking to explore markets in the North America and Canada region.

Indian Oil Corporation is the largest enterprise in the country and the foremost ranked Fortune Global 500 Company in India and has presence in the complete hydrocarbon value chain from downstream refining & marketing, pipeline transportation, Petrochemicals, E&P and Gas Marketing.


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