Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  NATIONAL STOCK EXCHANGE OF INDIA  >  Indian Oil Corporation    IOC   INE242A01010

INDIAN OIL CORPORATION (IOC)
My previous session
Most popular
  Report  
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsTweets

Indian Oil : to invest Rs 5,463 crore on gas networks in seven cities

share with twitter share with LinkedIn share with facebook
share via e-mail
0
10/12/2018 | 02:24am CEST

NEW DELHI: Indian Oil (IOC) will invest Rs 5,463 crore in setting up city gas distribution networks for retailing CNG for automobiles and piped cooking gas to households in seven districts.

"IOC has won the bidding for implementation of City Gas Distribution (CGD) for seven geographical areas. The board has approved the estimated total capital investment of Rs 5,463 crore on the implementation of the CGD projects. The investment in CGD business will help IOC expand and consolidate its gas business," the company said.

The seven districts are Coimbatore, Salem, Bokaro, Rewa, Aurangabad, Guna, and Jagtial. IOC, however, did not specify the investments to be made in the nine cities it had won in the joint venture with Adani Gas.

On September 17, Petroleum and Natural Gas Regulatory Board (PNGRB) had announced the final list of winners of city gas retailing licences in a bid to bring gas coverage to 29 per cent of the country's area and 24 per cent of the population.

Adani Gas had emerged the biggest winner of the auction by bagging the right to retail CNG in 13 cities on its own and in another nine in a JV with IOC. Besides IOC, the other prominent winners were Bharat Gas Resources and Torrent Gas.

IOC's board on Thursday also approved a Rs 520 crore investment for production of ethanol using LanzaTech (USA) gas fermentation technology at its Panipat refinery in Haryana. The proposed ethanol plant is designed to produce 33.5 KTPA anhydrous ethanol for use in automotive fuel, conforming to BIS and will be suitable for blending with BS-VI MS.

The board also approved a Rs 1,332 crore investment in laying a pipeline from Paradip in Odisha to Haldia in West Bengal. The Paradip-Somnathpur-Haldia pipeline "would enable placement of products from Paradip Refinery, Odisha to Somnathpur, Odisha for meeting the local demand as well as to Haldia, West Bengal for onward movement through other pipelines," the company said.

(c) 2018, Express Network Pvt Ltd. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on INDIAN OIL CORPORATION
10/18INDIAN OIL : to invest Rs 8 bn in a greenfield ethanol plant in UP
AQ
10/18INDIAN OIL : Total partners with Adani Group for fuel retail, LNG terminals in I..
AQ
10/17INDIAN OIL : Titled 'The Canvas Code', the IndianOil Art exhibition announces 22..
AQ
10/16INDIAN OIL : 'LPG penetration in Northeast to cross 80 per cent by March 2019'
AQ
10/15IOC, ONGC, Oil India may buy back shares worth Rs 10,000 crore
AQ
10/13INDIAN OIL : PM discusses Iran oil imports with his ministers
AQ
10/12INDIAN OIL : IOC gains 6% on approval for investment proposal of Rs 7,315cr
AQ
10/12INDIAN OIL : to invest Rs 5,463 crore on gas networks in seven cities
AQ
10/11INDIAN OIL : The bottling plant gets emergency response vehicle
AQ
10/11LPG TERMINAL : Too strategic to discard, says IOC
AQ
More news
News from SeekingAlpha
2015InterOil drilling results raises hopes for Papua New Guinea gas field 
2015InterOil wins Elk-Antelope legal case 
Financials (INR)
Sales 2019 5 448 B
EBIT 2019 271 B
Net income 2019 180 B
Debt 2019 698 B
Yield 2019 6,44%
P/E ratio 2019 7,29
P/E ratio 2020 6,72
EV / Sales 2019 0,36x
EV / Sales 2020 0,35x
Capitalization 1 285 B
Chart INDIAN OIL CORPORATION
Duration : Period :
Indian Oil Corporation Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends INDIAN OIL CORPORATION
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 32
Average target price 176  INR
Spread / Average Target 33%
EPS Revisions
Managers
NameTitle
Sanjiv Singh Chairman
Arun Kumar Sharma Director & Finance Director
Alok Khanna Executive Director-Information Systems
S. S. V. Ramakumar Director & Director-Research & Development
Parindu K. Bhagat Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
INDIAN OIL CORPORATION-30.69%17 504
CONOCOPHILLIPS33.49%84 356
CNOOC LTD29.95%83 151
EOG RESOURCES13.59%68 664
OCCIDENTAL PETROLEUM CORPORATION4.48%54 983
CANADIAN NATURAL RESOURCES LIMITED-15.74%34 539