|Bid||78.10 x 0|
|Ask||0.00 x 0|
|Day's range||76.10 - 78.50|
|52-week range||71.15 - 148.95|
|Beta (5Y monthly)||0.83|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||5.25 (6.71%)|
|1y target est||163.72|
Indian state refiners' annual gasoline sales rose to pre-COVID levels in September and a fall in diesel sales slowed, as the loosening of lockdown restrictions boosted energy consumption and economic activity, provisional industry data showed. Last month, gasoline sales by state refiners saw their first annual growth since March, underpinned by a gradual lifting of coronavirus curbs even as India suffers one of the highest infection rates in the world. India's fuel consumption- a proxy for oil demand- was hard hit by a nation-wide lockdown imposed in March to stem the spread of covid-19.
Indian Oil Corp is seeking gasoline, a tender document showed, making it the second refiner from the country looking to plug a gap caused by low crude runs to curb inflating supplies of diesel and jet fuel, industry sources said. IOC, which does not typically comment on its spot deals, is looking to import 30,000 tonnes of gasoline for Oct. 10-11 arrival at Chennai and Kochi through a tender closing on Sept. 29. This comes after Bharat Petroleum Corp Ltd bought gasoline from an oil major last week for Oct. 7-11 arrival at Kandla, its first purchase this year.
Indian Oil Corp (IOC) <IOC.NS>, the country's largest refiner, is reviewing its refinery expansion plans because of a gradual rise in use of cleaner fuels and changing demand patterns in Asia's third-largest economy, its chairman said. In 2018 India set a target for a 77% jump in refining capacity to about 9 million barrels per day (bpd) by 2030, with IOC raising capacity to 2.6 million bpd. Vaidya said that IOC's focus is on adding higher capacity through expansion of existing units and raising petrochemical capacity to protect margins.