Indian Oil Corporation Ltd to set up Paradip Petrochemical Complex

The Board of directors of Indian Oil Corporation Limited at its meeting held on 21st March 2023 has accorded 'in-principle' approval to carry out pre project activities including preparation of Detailed Feasibility Report for setting up Paradip Petrochemical Complex at Paradip, Odisha at an estimated project cost of Rs. 61077 crore.

The project shall improve the Petrochemical Intensity Index of the Company and de-risk its fossil fuel business. It shall also help to reduce the import dependency and contribute to vision of "Atmanirbhar Bharat."

Shares of Indian Oil Corporation Limited was last trading in BSE at Rs. 79.51 as compared to the previous close of Rs. 80.56. The total number of shares traded during the day was 481608 in over 2848 trades.

The stock hit an intraday high of Rs. 81.00 and intraday low of 79.35. The net turnover during the day was Rs. 38445839.00.

Source : Equity Bulls

Keywords

IndianOilCorporation INE242A01010 InPrincipleApproval ParadipPetrochemicalComplex AtmanirbharBharat