Indian Oil Corporation Limited approves setting up of a Yarn Project

The Board of directors of Indian Oil Corporation Limited at its meeting held today i.e. on 20th December 2024 has accorded Investment approval for setting up of a Yarn Project consisting of 900 TPD Continuous Polymerization (CP) unit with downstream units of Draw Textured Yarn (DTY), Fully Drawn Yarn (FDY), Polyester chips & associated facilities at Bhadrak (Odisha) at an estimated cost of Rs. 4,382.21 crore through (50:50) Joint Venture with MCPI Pvt. Ltd. with IndianOil's equity contribution of Rs. 657.33 crore.

Shares of Indian Oil Corporation Limited was last trading in BSE at Rs. 137.25 as compared to the previous close of Rs. 139.65. The total number of shares traded during the day was 1322036 in over 15242 trades.

The stock hit an intraday high of Rs. 141.65 and intraday low of 136.70. The net turnover during the day was Rs. 184312376.00.

Source : Equity Bulls

Keywords

IndianOilCorporation INE242A01010 IOC InvestmentApproval YarnProject