 "Indian Oil corporation, IOC")
Indian Oil share price: Oil marketing company Indian Oil Corporation Limited (IOCL) shares were in demand on Friday, December 13, 2024, as the share moved up to 2.47 per cent to hit an intraday high of Rs 145 per share.
The uptick in the Indian Oil share came after New York-based international brokerage firm Jefferies upgraded the company to ‘Buy’. The brokerage also raised the target price to Rs 185 per share, according to reports. The fresh target price reflects an upside of 30.7 per cent from the previous close (December 12) of Rs 141.50.
Indian Oil Q2 financial performance
Suffering from lower refining and marketing margins, state-run Indian Oil Corporation Ltd (IOCL) reported a net loss of Rs 169.58 crore for the second quarter of FY25 (July-September). This marked a major decline compared to the Rs 13,114.3 crore net profit recorded in Q2FY24. On a sequential basis, the company's net profit also fell sharply from Rs 3,528.5 crore in the preceding quarter.
The substantial reduction in net profit during Q2FY25 is primarily attributed to a steep decline in average gross refining margins (GRMs)—the revenue earned from converting crude oil into refined fuel products. IOCL reported an average GRM of $4.08 per barrel for the first half of FY25, a 68.9 per cent drop from the $13.12 per barrel recorded during the same period in FY24. READ MORE
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About Indian Oil
Indian Oil Corporation Limited (IOCL), popularly known as IndianOil, is a leading Indian multinational oil and gas enterprise owned by the Government of India and operating under the Ministry of Petroleum and Natural Gas. Headquartered in New Delhi and registered in Mumbai, IndianOil stands as a public sector undertaking and a vital pillar of India's energy sector.
As a diversified and integrated energy major, IndianOil operates across oil, gas, petrochemicals, and alternative energy, underpinned by exceptional talent, innovative technologies, and cutting-edge research and development. Ranking 116th on the Fortune Global 500 list, IndianOil represents India’s energy prowess on the global stage.
On a daily basis, IndianOil processes over 1.6 million barrels of crude oil, serving over three crore Indians through its expansive network of more than 61,000 customer touchpoints, including 37,500+ fuel stations.
It delivers over 26 lakh LPG cylinders daily, reaching even the remotest regions of the country, and fuels over 2,300 flights, powering more than half the aircraft in Indian skies.
With an extensive pipeline network spanning nearly 20,000 kilometers and a market share exceeding 45 per cent, IndianOil serves a vast customer base of over 15 crore.
Moreover, the company’s flagship brand, ‘Indane,’ has been a household name for decades, revolutionising domestic LPG usage in India with a steadfast commitment to customer safety and service excellence.
The market capitalisation of Indian Oil is Rs 1,99,815.52 crore, according to BSE. The company falls under the BSE 100 category.
The 52-week high of Indian Oil share is Rs 196.80, while its 52-week low is Rs 117.25 apiece.
At 10:30 AM, Indian Oil shares were trading 0.11 per cent lower at Rs 141.35 per share. In comparison, BSE Sensex was down 1.19 per cent or 965 points at 80,324.96 levels.
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