Indian Oil Corporation clarifies on Paradip Refinery

The Exchange had sought clarification from Indian Oil Corporation Ltd with respect to news article appearing in Mint on January 02, 2015 titled "IOC to commission Paradip refinery".

Indian Oil Corporation Ltd has replied stating that a 15 MMTPA Grass Root Refinery Project at Paradip was approved by the Board of IndianOil way back in 2009. The status of the project is also provided in the Annual Reports from time to time. It may be noted that the project is nearing completion and the commissioning of the project is likely to begin on stage-wise basis from F.Y. 2015-16. Once the project is commissioned, the Stock Exchanges would be duly notified.

Shares of INDIAN OIL CORPORATION LTD. was last trading in BSE at Rs.334.8 as compared to the previous close of Rs. 336.55. The total number of shares traded during the day was 84671 in over 3442 trades.

The stock hit an intraday high of Rs. 339.45 and intraday low of 333.1. The net turnover during the day was Rs. 28491406.

Source : Equity Bulls

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