News

Indian Oil Corporation shares -- traded with the symbol IOC on exchanges BSE and NSE -- registered mild gains on Wednesday, a day after the Maharatna CPSE said it had signed a pact with Tata group airline Air India for the supply of sustainable aviation fuel (SAF), a fuel made from non-petroleum feedstocks that offers a greener alternative to conventional aviation turbine fuel (ATF). Indian Oil shares rose as much as half a per cent to Rs 142.7 on BSE and NSE each.   

However, in afternoon deals, the stock was barely in the green, in a market poised for a fifth straight positive close.  

The stock traded in low volumes. 

By 2:30 pm, about 2.0 lakh IOC shares had changed hands on BSE for the day, as against a daily average of 6.2 lakh recorded in the past two weeks, according to provisional exchange data. 

ALSO READ: Air India and Indian Oil sign MoU to promote sustainable aviation fuel for greener skies  

At the current level, IOC shares have risen 3.4 per cent so far in 2025, almost in line with gains of 5.6 per cent and 4.3 per cent in the Nifty 50 and Nifty Oil & Gas indices, respectively. 

HDFC Securities has a 'reduce' rating assigned to the OMC stock with a target price of Rs 136 apiece.

At Tuesday's closing price, the brokerage's target indicates a potential downside of 4.2 per cent in IOC shares. 

YES Securities has a 'neutral' rating on IOC with a target price of Rs 139. 

Last week, Indian Oil Corp (IOC) reported a weaker-than-expected net profit of Rs 5,688.6 crore for the quarter ended June 30. 

Its revenue came in at Rs 2,18,607.7 crore as against Rs 2,17,725.4 crore for the previous three months. 

According to Zee Business research, IOC was estimated to register a net profit of Rs 8,452 crore and revenue of Rs 1.8 lakh crore for the first quarter of the current financial year.

The OMC's margin shrank by 50 basis points sequentially to 6.5 per cent.

Its average gross refining margin -- a key measure of profitability -- came in at $2.15 per barrel, whereas its core GRM stood at $6.91 per barrel. 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

LATEST NEWSBy accepting cookies, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.