Indian Oil Corporation on Wednesday has increased the non-subsidised LPG cylinder prices by Rs 86 for its 14.2 kg cylinder. Soon after the announcement, the shares of the company slipped in red. The stock is trading down by nearly 2% in Wednesday’s trade. The stock has delivered 96% in a period of one year and has outperformed the BSE Sensex and BSE Oil & Gas indices over the same time span.
The stock of IOC witnessed a 4.6% increase in the open interest. However, a short built-up position in IOC was seen as the share price declined by 1.2%.
Indian Oil Corporation Limited is engaged in the refining business. The company’s segments include sale of petroleum products, sale of petrochemicals and other businesses. Read More…
Credit By : Indiainfoline.com
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