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Maharatna PSU Stock Issues NCDs Worth Rs 2,500 Crore, Shares Rally
Shares of leading Maharatna PSU stock, Indian Oil Corporation Ltd has today surged over 3% in trade after it issued 25,000, 7.44% unsecured, listed, taxable, redeemable non-convertible debentures (NCDs) of Rs 10 lakh each aggregating to Rs 2,500 crore on private placement basis on November 25, 2022. Check key takeaways below:
According to the regulatory filing of the large cap company, "the funds raised through this issue will be utilized for, inter alia, refinancing of existing borrowing and/or funding of Capital Expenditure of the Company, including recoupment of expenditure already incurred and/or for any other purpose in the ordinary course of business of the Company."
1. Stock Performance
The shares of the company gained soon after the announcement. The last trading price of the stock is Rs 76 apiece after an intraday gain of 3.82%. The stock's 52-week high is Rs 90.71 apiece and 52-week low is Rs 65.20 apiece, respectively.
2. Market Capitalisation
The company has a market capitalisation of Rs 1,07,533.23 crore.
3. Return
The stock declined 41% in last 5-years, 14% in last 3-years, and a little over 5% in last 1-year. The stock has gained 6% in last 3-months, 11% in last 1-month, and a little above 8% in last 1-week.
4. About Indian Oil Corporation
Indian Oil Corporation (IOC), is leading flagship national oil company and downstream petroleum major. It came into existence June 30, 1959 as Indian Oil Company. Later it was renamed as Indian Oil Corporation on September 1, 1964 following the merger of Indian Refineries (established 1958) with it. The Indian Oil Group of companies owns and operates ten of India's 20 refineries with a combined refining capacity of 60.2 million metric tonnes per annum (MMTPA, .i.e. 1.2 million barrels per day).
