Indian Oil Corporation Ltd News

'Stellar' performance, says IOC as market share climbs to 43% in FY23

State-owned Indian Oil Corporation (IOC) on Monday said its fuel market share climbed to 43 per cent in the fiscal year that ended on March 31 during which all its divisions posted stellar performance. IOC, the nation's top oil firm, added almost 1,800 petrol pumps, clocked highest ever throughput at its refineries, posted a 14 per cent jump in fuel sales and registered the highest-ever pipeline expansion during 2022-23 (April 2022 to March 2023), the firm said in a statement. The company owns about a third of India's oil refining capacity and about half of the nation's fuel retailing infrastructure. IOC chairman S M Vaidya said the company's refineries clocked the highest-ever throughput of over 72.4 million tonnes in 2022-23, compared with 67.67 million tonnes in the previous fiscal year. Its liquid pipelines throughput jumped from about 83.25 million tonnes in 2021-22 to the highest ever 94.7 million tonnes. IOC also registered the highest-ever pipeline expansion of about 2,450

BPCL, HPCL, IOC: Brent crude fall may trigger short-term rally in OMCs

BPCL, HPCL and IOC may rise up to 11 per cent in coming sessions, and if they manage to sustain their upward rally, medium-term bias may strongly shift in bull's favour.

OMCs in focus as crude oil hits 1-year low; BPCL, HPCL surge up to 5%

With this decline in crude prices analysts expect marketing margins of HPCL, BPCL and IOCL to improve further.

IOC to set up green hydrogen plants at all refineries; lines up Rs 2 trn

India's top oil firm IOC will set up green hydrogen plants at all its refineries as it pivots a Rs 2-lakh crore green transition plan to achieve net-zero emissions from its operations by 2046, its chairman Shrikant Madhav Vaidya said. Indian Oil Corporation (IOC) is remodelling business with an increased focus on petrochemicals to hedge volatility in the fuel business, while at the same time turning petrol pumps into energy outlets that offer EV charging points and battery swapping options besides conventional fuels as it looks to make itself future-ready, he said. The company intends to expand its refining capacity to 106.7 million tonnes per annum from 81.2 million tonnes as it sees India's oil demand climbing from 5.1 million barrels per day to 7-7.2 million bpd by 2030 and 9 million bpd by 2040. "Oil will continue to be a mainstay fuel for the next few years but we are preparing for transition which will involve a combination of green hydrogen, biofuels, EVs and alternate fuels,

Indian Oil clarifies on Adani Gas deal after public scrutiny: Report

An Indian Oil spokeswoman said on Thursday that the agreement with Adani was signed very recently and there was no commitment on capacity use

F&O Call: Nandish Shah recommends Bull Spread strategy on IOC

The derivative analyst from HDFC Securities recommends to Buy IOC 83 Call and simultaneously SEll 85 Call of the January expiry.

NTPC, Reliance, Adani top green hydrogen plays to bet on, say analysts

As per analysts, electrolyser manufacturers, fuel cell makers for non-emission vehicles, traditional players engaged in energy storage solutions or batter makers are among key beneficiaries

OMCs trade firm in a range-bound market; IOC, HPCL, BPCL surge up to 5%

After two tight quarters of profit-margin shrinkage due to global volatility, Indian OMCs are expected to see reduction in operational losses in the October-December quarter (Q3FY23).

Here's why Vinay Rajani recommends to buy SBI Life, Indian Oil

On the broader market outlook, the technical & derivative analyst from HDFC Securities expects the near term trend on the Nifty to remain bearish as long as the index stays below 18,141.

IGL, MGL gain up to 4% post Kirit Parikh panel gas pricing recommendations

The S&P BSE Oil & Gas index hit a 52-week high of 20,653.57 in intra-day trade on Wednesday

Analysts see pressure on RIL, OMC's profitability amid firm oil prices

Their expectation is based on the recent action in October by the OPEC of cutting production by 2 million barrels per day. This suggests that the OPEC is looking to defend price, they said

BPCL, HPCL hit 52-week lows on concerns of large losses in Q2FY23

Analysts believe that OMCs would see further decline in GRMs in Q2FY23, as cracks correct on a sequential basis and lower oil prices would drive sizable inventory losses

Here's why Mehul Kothari recommends buying Gland Pharma, Indian Oil

According to the technical analyst from Anand Rathi, Gland Pharma can rally to Rs 2,350, while IOC can spurt to Rs 83.