Indian Oil Corporation surged 3.67% at Rs 134.30 at 14:55 IST on BSE after the company scheduled a board meeting on 13 December 2018 to consider and approve buyback of the fully paid-up equity shares of the company.
The announcement was made on Saturday, 8 December 2018.Meanwhile, the S&P BSE Sensex was down 663.44 points or 1.86% at 35,009.81
On the BSE, 25.50 lakh shares were traded on the counter so far as against average daily volumes of 13.51 lakh shares in the past two weeks. The stock had hit a high of Rs 135.15 and a low of Rs 127.70 so far during the day.
Indian Oil Corporation (IOCL)'s net profit fell 12.16% to Rs 3246.93 crore on 45.97% growth in total income to Rs 133075.42 crore in Q2 September 2018 over Q2 September 2017.
IOCL is India's flagship national oil company, with business interests that straddle the entire hydrocarbon value chain - from refining, pipeline transportation and marketing of petroleum products to exploration & production of crude oil & gas as well as marketing of natural gas and petrochemicals.
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