Indian Oil Corporation Ltd approves capacity expansion of Panipat Refinery

The Board of Indian Oil Corporation Limited t its meeting held on 1%t December 2023 has accorded approval for the following:

- Procurement and installation of 4,000 Fast Electric Vehicle Chargers at an estimated capital investment of Rs. 919.78 crore.

- Revision in cost of the project for capacity expansion of Panipat Refinery (from 15 to 25 MMTPA) from Rs. 32,946 crore to Rs. 36,225 crore and revision in completion schedule of the project from September 2024 to December 2025.

Shares of Indian Oil Corporation Limited was last trading in BSE at Rs. 111.25 as compared to the previous close of Rs. 111.57. The total number of shares traded during the day was 2041810 in over 9078 trades.

The stock hit an intraday high of Rs. 114.00 and intraday low of 110.60. The net turnover during the day was Rs. 228120805.00.

Source : Equity Bulls

Keywords

IndianOilCorporation INE242A01010 InvestmentApproval Expansion PanipatRefinery EVChargers