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MarketScreener Homepage  >  Equities  >  NSE India Stock Exchange  >  Indian Oil Corporation Limited    IOC   INE242A01010

INDIAN OIL CORPORATION LIMITED

(IOC)
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Delayed Quote. Delayed NSE India Stock Exchange - 09/24 07:10:28 am
72 INR   -5.20%
02:25pIndia's August crude processing drops as raging virus cases dim demand
RE
07:08aFire-hit supertanker owner to pay $1.8 million for Sri Lanka's help
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09/21Indian Oil Corp reviews refinery expansion plans
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Indian Oil : Sri Lanka seeks at least $1.9 mln damage from owner of fire-hit tanker

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09/16/2020 | 11:56am EDT

(Adds details, background)

COLOMBO/NEW DELHI, Sept 16 (Reuters) - Sri Lanka is seeking at least 340 million rupees ($1.9 million) from the owner of the stricken oil supertanker New Diamond for assistance given to the vessel since it caught fire on Sept. 3, the coordinating officer to the country's attorney general said.

Nishara Jayaratne said the cost was for services provided by various departments including the Sri Lankan navy, air force, ports authority and Marine Environment Protection Authority, among others, up until Sept. 15.

The fully-loaded vessel is still in Sri Lankan waters, although the fire was completely doused last week.

Greece-based Porto Emporios Shipping Inc is the registered owner of the 20-year old Panama-flagged very large crude carrier, according to Refinitiv data. New Shipping Ltd is the manager of the vessel.

The vessel is chartered by Indian Oil Corp to import 2 million barrels of oil from Kuwait to Paradip in eastern India.

The supertanker was about 90 nautical miles (167 kilometers) from Batticaloa, the eastern province of Sri Lankan, Navy spokesman Indika de Silva said.

"We decided to let the salvage master do his job with no restrictions from us on maintaining distance. There is strong current in the area that pulls ship further away. Its hard to pull it back closer to land due to the heavy current," de Silva told Reuters.

The ship has left long trails of marine oil slicks.

De Silva said all Indian vessels engaged in dousing the fire and subsequent activities had left Sri Lanka this afternoon.

He also said the $1.9 million claim was a preliminary sum, as the Sri Lankan Navy was still engaged in the operation.

New Shipping Ltd has appointed SMIT Singapore Pte Ltd to lead salvage operations.

Salvagers have already vacated the ruptured tank in the engine room and transferred the dirty water into the ballast section.

($1 = 184.9000 Sri Lankan rupees) (Editing by Mark Potter)

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Financials
Sales 2021 3 286 B 44 463 M 44 463 M
Net income 2021 99 144 M 1 342 M 1 342 M
Net Debt 2021 1 206 B 16 317 M 16 317 M
P/E ratio 2021 6,72x
Yield 2021 7,35%
Capitalization 661 B 8 946 M 8 945 M
EV / Sales 2021 0,57x
EV / Sales 2022 0,43x
Nbr of Employees 32 803
Free-Float 24,2%
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Mean consensus BUY
Number of Analysts 30
Average target price 116,45 INR
Last Close Price 72,00 INR
Spread / Highest target 171%
Spread / Average Target 61,7%
Spread / Lowest Target -9,72%
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Managers
NameTitle
Shrikant Madhav Vaidya Chairman
Sandeep Kumar Gupta Chief Financial Officer & Finance Director
S. S. V. Ramakumar Director & Director-Research & Development
Govind Kottieth Satish Director, Director-Planning & Business Development
Vinoo Mathur Independent Non-Executive Director
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