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    IOC   INE242A01010

INDIAN OIL CORPORATION LIMITED

(IOC)
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India fuel consumption picks up in June as lockdowns ease

07/01/2021 | 01:49am EDT
FILE PHOTO: A worker holds a nozzle to pump petrol into a vehicle at a fuel station in Mumbai

 
    By Nidhi Verma
    NEW DELHI, July 1 (Reuters) - India's auto fuel demand
picked up in June as economic activity accelerated after the
easing of pandemic-related lockdowns, preliminary sales data
showed on Thursday.
    State-run refiners sold 2.12 million tonnes of gasoline last
month, up 29.35% from May and about 5.7% from the year-earlier
period.
    Sales of gasoil, which accounts for about two-fifths of
India's overall refined fuel consumption and is directly linked
to industrial activity in Asia's third-largest economy, rose
18.5% from May to 5.36 million tonnes, but were down 1.84% from
June 2020.
    Compared to June 2019, demand for gasoline and gasoil last
month slipped 10.4% and 18.8%, respectively.
    Fuel demand in India would recover to pre-pandemic levels by
the end of this year after being hit by a deadly second wave of
coronavirus, oil minister Dharmendra Pradhan said on
Tuesday.
    In May, local fuel consumption, a proxy for oil demand, 
slumped to its lowest since last August as lockdowns and travel
restrictions in several states stalled mobility and muted
economic activity.
    State-run Indian Oil Corp, Hindustan Petroleum Corp
 and Bharat Petroleum Corp Ltd own about 90%
of India's retail fuel outlets.
Below is a table of India' preliminary daily fuel sales data
with volumes in million tonnes.
    
    Product      June 2021   % chg      % chg       %chg vs
                             mth/mth     yr/yr     June 2019
 Gasoline             2.12      29.35       5.66       -10.39
 Gasoil               5.36      18.51      -1.84       -18.84
 Jet Fuel             0.23       -4.2       9.86       -61.75
 Liquefied            2.24       6.44       9.52        26.31
 Petroleum Gas                                    
 
 (Reporting by Nidhi Verma, Editing by Subhranshu Sahu)
  

ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BHARAT PETROLEUM CORPORATION LIMITED -1.23% 414.8 Delayed Quote.8.84%
HINDUSTAN PETROLEUM CORPORATION LIMITED -1.86% 274.8 Delayed Quote.26.11%
INDIAN OIL CORPORATION LIMITED -0.64% 117.25 Delayed Quote.28.92%
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Analyst Recommendations on INDIAN OIL CORPORATION LIMITED
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Financials
Sales 2022 5 469 B 74 099 M 74 099 M
Net income 2022 155 B 2 106 M 2 106 M
Net Debt 2022 1 208 B 16 371 M 16 371 M
P/E ratio 2022 7,09x
Yield 2022 6,98%
Capitalization 1 076 B 14 584 M 14 584 M
EV / Sales 2022 0,42x
EV / Sales 2023 0,43x
Nbr of Employees 31 648
Free-Float 26,7%
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Number of Analysts 30
Last Close Price 117,25 INR
Average target price 130,73 INR
Spread / Average Target 11,5%
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Managers and Directors
Sandeep Kumar Gupta CFO, Finance Director & Director
Shrikant Madhav Vaidya Chairman
S. S. V. Ramakumar Director & Director-Research & Development
Lata Usendi Independent Non-Executive Director
Ranjan Kumar Mohapatra Director & Director-Human Resources
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1st jan.Capi. (M$)
INDIAN OIL CORPORATION LIMITED28.92%14 584
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