Indian Oil Corporation Ltd fell for a fifth straight session today. The stock is quoting at Rs 136.26, down 1.82% on the day as on 12:59 IST on the NSE. The benchmark NIFTY is down around 0.94% on the day, quoting at 23659.1. The Sensex is at 78018.99, down 0.83%.Indian Oil Corporation Ltd has eased around 17.65% in last one month.Meanwhile, Nifty Energy index of which Indian Oil Corporation Ltd is a constituent, has eased around 10.14% in last one month and is currently quoting at 37705.65, down 1.02% on the day. The volume in the stock stood at 70.89 lakh shares today, compared to the daily average of 183.19 lakh shares in last one month. The benchmark November futures contract for the stock is quoting at Rs 136.9, down 1.63% on the day. Indian Oil Corporation Ltd jumped 33.98% in last one year as compared to a 20.25% rally in NIFTY and a 31.64% spurt in the Nifty Energy index.The PE of the stock is 13.33 based on TTM earnings ending September 24.Powered by Capital Market - Live

Indian Oil Corporation has informed that the following Board of directors have superannuated from the services of the Company on 30 October 2024: Dr. Santanu Gupta, Executive Director (Alternative Energy), Business Development, Shri Sourav De, Executive Director (Human Resources), Pipelines Division), Shri Shyam Bohra, Executive Director I/c (Corporate Communication, Branding & Coordination), Corporate Office, and Shri Debasis Bhattacharyya, Executive Director (Technology Implementation Cell), R&D Centre.Powered by Capital Market - Live

Net loss of Indian Oil Corporation reported to Rs 169.58 crore in the quarter ended September 2024 as against net profit of Rs 13114.30 crore during the previous quarter ended September 2023. Sales declined 2.38% to Rs 174976.12 crore in the quarter ended September 2024 as against Rs 179245.67 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales174976.12179245.67 -2 OPM %1.9812.93 - PBDT2319.1122022.38 -89 PBT-1746.0118412.76 PL NP-169.5813114.30 PL Powered by Capital Market - Live

The company reported loss before exceptional item and tax of Rs 984.47 crore in Q2 FY25 as compared with profit before exceptional item and tax of Rs 17,169.87 crore reported in Q2 FY24. Exceptional item stood at Rs 1,157.30 crore, due to favourable order from Hon'ble Supreme Court dated 02.08.2024, on the subject of VAT Input Tax Credit under Gujarat VAT Act 2005, a provision created earlier in the books has been written back and disclosed as exceptional item during the current quarter. Domestic sales fell marginally 0.03% to 21.931 million metric tons (MMT) and the export sales dropped 20.95% to 1.030 MMT in Q2 FY25 over Q2 FY24. During the quarter, the refineries throughput was 16.738 MMT (down 5.82% YoY) while the pipelines throughput was 23.985 MMT (up 0.48% YoY). The company's revenue from petroleum products stood at Rs 1,83,247.52 crore (down 3.93% YoY) while the income from the petrochemicals revenue was at Rs 6,813.36 crore (up 3.02% YoY) during the period under review. Average gross refining margin (GRM) for the period April-September 2024 is $4.08 per bbl as compared to $13.12 per bbl reported in April- September 2023. The core GRM or the current price GRM for the period April- September 2024 after offsetting inventory loss/ gain comes to $2.97 per bbl. On the margins front, the company's operating margin reduced to 0.03% in Q2 FY25 from 8.91% posted in Q2 FY24. Net profit margin declined to 1.22% in Q1 FY25 as against 6.22% recorded in the corresponding quarter previous year. Indian Oil Corporation is an Indian government owned oil and gas explorer and producer. As of 30 June 2024, the Government of India held 51.50% stake in the company. The scrip rose 0.51% to end at Rs 147.10 on the BSE.Powered by Capital Market - Live

Indian Oil as entered into a Joint Venture Agreement with EverEnviro Resource Management, a leading biofuels company in the country. This association will pave the way for the formation of a 50:50 joint venture company dedicated to advancing biofuel adoption across the country. The joint venture will focus on integrating advanced biogas technologies to convert organic waste into Compressed Biogas (CBG), a cleaner and renewable energy source. This will significantly reduce greenhouse gas emissions while providing a sustainable alternative to traditional fossil fuels. By leveraging their combined expertise, IndianOil and EverEnviro aim to accelerate the deployment of CBG plants nationwide. These initiatives complement IndianOil's long-term low-carbon development strategy and achievement of operational Net Zero goal by 2046, which will also help in achieving the Net-Zero target for India by the year 2070. CBG offers numerous benefits to India and the environment. For the country, it promotes energy security by reducing dependence on imported fossil fuels and supports the rural economy by creating local employment opportunities. Powered by Capital Market - Live

Indian Oil Corporation will hold a meeting of the Board of Directors of the Company on 28 October 2024.Powered by Capital Market - Live

Indian Oil Corporation has received credit rating of CARE AAA; Stable / CARE A1+ for bank facilities aggregating Rs 57,750 crore from CARE Ratings. Powered by Capital Market - Live

Indian Oil Corporation and Nepal Oil Corporation signed a Business to Business (B2B) Framework Agreement today paving the way for the development of critical petroleum infrastructure projects in Nepal. This agreement follows the Government-to-Government (G2G) Memorandum of Understanding (MoU) signed earlier between India's MoP&NG and Nepal's Ministry of Industry, Commerce and Supplies (MoICS) on 31 May 2023. The G2G MoU encompasses the extension of the Motihari - Amlekhgunj Petroleum Pipeline (MAPL) ' South Asia's first transnational petroleum product pipeline, commissioned in 2019 ' to Chitwan, Nepal. Additionally, the MoU covers the construction of oil storage terminals at Chitwan and a new transnational pipeline from IndianOil's facility in Siliguri to Jhapa alongside an oil storage terminal at Jhapa. These projects are expected to transform petroleum logistics between the two countries. These pipelines have been designed to meet the future energy needs of Nepal, with ample storage capacity at both the Chitwan and Jhapa terminals. The B2B Framework Agreement signed today enables IndianQOil and NOC to take up construction on these vital projects. This collaboration is crucial for optimizing the transportation of petroleum products, which will significantly reduce costs for Nepal Oil Corporation by minimizing reliance on tank trucks. Furthermore, the infrastructure is designed for mitigation of handling losses & environmental risks, alleviation of border congestion and strengthening of Nepal's energy security ' especially during natural disasters such as floods and landslides. Powered by Capital Market - Live

Indian Oil Corporation announced that the MoP&NG has conveyed that no funds have been allocated for capital support to Oil Marketing Companies (OMC's) in the Budget 2024-25, as against the earlier proposed allocation of Rs. 30,000 crore. Therefore, in view of the Govt. of India's (Promoters) non-participation in the Right Issue, the Board at its meeting held on 30 September 2024 has decided to withdraw the proposed Right Issue of equity shares. Earlier in July, the Board has accorded approval for Raising of capital by way of issue of equity shares on Right basis upto an amount not exceeding Rs. 22,000 crore. Powered by Capital Market - Live

Indian Oil Corporation Ltd fell for a fifth straight session today. The stock is quoting at Rs 164.2, down 2.52% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is up around 0.06% on the day, quoting at 25392.05. The Sensex is at 83172.83, up 0.27%.Indian Oil Corporation Ltd has eased around 4.66% in last one month.Meanwhile, Nifty Energy index of which Indian Oil Corporation Ltd is a constituent, has eased around 2.88% in last one month and is currently quoting at 42350.7, down 0.18% on the day. The volume in the stock stood at 140.44 lakh shares today, compared to the daily average of 179.35 lakh shares in last one month. The benchmark September futures contract for the stock is quoting at Rs 164.86, down 2.25% on the day. Indian Oil Corporation Ltd jumped 78.77% in last one year as compared to a 27.59% rally in NIFTY and a 54.06% spurt in the Nifty Energy index.The PE of the stock is 8.34 based on TTM earnings ending June 24.Powered by Capital Market - Live