Page 45 - Ioc News Today

Indian Oil Corporation (IOC) has revised the cost of expanding its Panipat refinery in Haryana by 10% to INR 36,225 crore and pushed back the completion deadline by over a year to December 2025. The refinery will expand its capacity to turn crude oil into value-added fuels, including petrol, diesel, and ATF. IOC is also setting up a polypropylene unit and a catalytic dewaxing unit.

The stock traded at a P/E multiple of 4.21, while the price-to-book value ratio stood at 0.77.

IOC director (marketing) V Satish Kumar said, "The battery-swapping technology presents a significant opportunity for promoting sustainable electric mobility solutions. This facility is expected to play a pivotal role in the adoption of EVs and spearhead energy transition in eastern India."

“Do not chase the new stocks at new highs because you have the fear of losing out. . HCL Tech has been my top pick over there. I still think HCL Tech is headed to Rs 1500 and I would add a Persistent and Coforge on declines. It is better if you chase an ETF, that is the CPSE ETF, it comprises about 12 of the best blue chips of PSUs. ”

Indian Oil Corporation (IOC) has revised the cost of expanding its Panipat refinery in Haryana by 10% to Rs 36,225 crore and pushed back the completion deadline by over a year to December 2025. The refinery will expand its capacity to turn crude oil into value-added fuels, including petrol, diesel, and ATF. IOC is also setting up a polypropylene unit and a catalytic dewaxing unit.

IOC is expanding its 15 million tonnes a year refinery, about 100-km north of New Delhi, to 25 million tonnes.

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Since it is the beginning of a new expiry, Options data is scattered at various strike prices. On the weekly front, the maximum Call OI is placed at 20400 and then towards 20300 strikes. The maximum Put OI is placed at 20000 and then towards 19800 strikes. Call writing is seen at 20400 and then towards 20300 strikes while Put writing is seen at 20000 and then towards 20100 strikes.

The stock quoted a 52-week high price of Rs 109.75 and a 52-week low of Rs 72.35.

“It is the broader market. HPCL, IOC, BPCL are on a roll. Hindustan Aeronautics is on a roll; I can go on. It is telling us that both the markets are going side by side, but the Nifty is now headed higher because that is where the maximum pessimism was. So new highs are very much on the cards.”