IOC surges on plan to invest Rs 1,200 crore for expansion of LPG pipeline projects.

 

     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 & marketion, pipeline transportation, Petrochemicals, E&P and Gas Marketing.
     In a bid to expand its Liquefied Petroleum Gas (LPG) pipeline projects, state-owned Indian Oil Corporation (IOC) has proposed to invest about Rs 1,200 crore during the current financial year. Paradip-Haldia-Durgapur Pipeline and Ennore-Trichy-Madurai Pipeline are being planned for transportation of LPG.
     Recently, the company said it plans to invest around Rs 8,700 crore in the Mathura refinery expansion project which would lead to speedy development of the Mathura-Agra region besides creating job opportunities 
     The promoters holding in the company stood at 68.57% while Institutions and Non-Institutions held 6.99% and 24.44% respectively.
     The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 385.35 on 6-Jun-2014 and a 52 week low of Rs 194.50 on 9-Jan-2014
     The stock is currently trading at Rs 360.20, up by 7,75 points from its previous closing of Rs 352.55 on the BSE.