|Bid||0.00 x 0|
|Ask||87.80 x 0|
|Day's range||87.25 - 88.30|
|52-week range||71.15 - 112.90|
|Beta (5Y monthly)||N/A|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||N/A (N/A)|
|1y target est||214.41|
Coronavirus cases have surged in India, leading to curbs on movement across the country, a move analysts say could hit fuel demand in the world's third largest oil importer and consumer. An official at IOC, India's biggest oil refiner, said the cuts in runs at its refineries were "marginal" but analysts and industry officials say there could deeper reductions in output from the country's refineries in coming days. Consultancy FGE said it estimates gasoline demand will drop by 100,000 barrels per day (bpd) in April and by more than 170,000 bpd in May if further restrictions are imposed.
Indian Oil Corp will invest 329.46 billion rupees ($4.46 billion) to raise the capacity of its Panipat refinery by two-thirds to 500,000 barrels per day (bpd) by September 2024, the country's top refiner said on Friday. India, the world's third biggest oil importer and consumer, aims to expand its 5 million bpd refining capacity by 60% to meet rising local demand as Prime Minister Narendra Modi seeks to boost the manufacturing sector. Along with expanding capacity, IOC will install catalytic dewaxing and polypropylene units at its Panipat refinery in northern Punjab state, it said in a statement.
Indian Oil Corp could create a subsidiary for its retail assets to help unlock value, the head of finance at India's largest refiner said on Tuesday, a day after the government announced plans to monetise IOC's pipeline assets. "Presently it is not on our radar but a possibility of any such thing to unlock the value cannot be ruled out," Sandeep Kumar Gupta said on an analysts call when asked if IOC plans to hive off its fuel retailing business into a separate company. Finance Minister Nirmala Sitharaman in her budget for fiscal year from April, announced plan to monetise oil and gas pipeline assets of IOC, gas utility GAIL (India) Ltd and Hindustan Petroleum Corporation Ltd.