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IOC gains on launching marine fuel grades, lubricant range at International Bunker Meet

Indian Oil Corporation (IOC) is currently trading at Rs. 148.60, up by 0.45 points or 0.30% from its previous closing of Rs. 148.15 on the BSE.

The scrip opened at Rs. 148.75 and has touched a high and low of Rs. 149.70 and Rs. 146.65 respectively. So far 190965 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 170.40 on 03-Jun-2019 and a 52 week low of Rs. 116.10 on 23-Aug-2019.

Last one week high and low of the scrip stood at Rs. 153.95 and Rs. 146.80 respectively. The current market cap of the company is Rs. 138764.70 crore.

The promoters holding in the company stood at 51.50%, while Institutions and Non-Institutions held 21.59% and 26.91% respectively.

Indian Oil Corporation (IOC) has launched two new marine fuel grades and a lubricant range at the Bunker ConFab 2019, an international bunker meet held at Mumbai. The new range of fuel grades are in line with IMO 2020, the new International Maritime Regulation (IMO) regulation limiting the sulphur content from the current 3.5% to 0.5%.

The new range lubricants have been specially formulated with lower reserve alkalinity, to suit low sulphur IMO 2020 fuels. The new marine fuels shall be available at Indian ports from mid – October 2019.

IOC 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.