L&T or Indian Oil Corporation Trading News

L&T hikes stake in Mind-tree to 28.87%

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Larsen and Toubro (L&T) have acquired about 98,000 shares of Mindtree from the open market on May 29. After the acquisition, the company’s stake in Mindtree has increased to 28.87 percent. L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing, and financial services with over $18 billion in revenue.

IOC rises on signing MoU with Punjab’s Cooperation Department to open retail outlets

Indian Oil Corporation is currently trading at Rs. 161.00, up by 0.50 points or 0.31% from its previous closing of Rs. 160.50 on the BSE. The scrip opened at Rs. 160.95 and has touched a high and low of Rs. 162.00 and Rs. 159.40 respectively. So far 30699 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 177.20 on 08-Jun-2018 and a 52 week low of Rs. 105.65 on 05-Oct-2018. Last one week high and low of the scrip stood at Rs. 164.90 and Rs. 154.55 respectively. The current market cap of the company is Rs. 151097.25 crore.

The promoters holding in the company stood at 52.18%, while Institutions and Non-Institutions held 20.87% and 26.95% respectively. Indian Oil Corporation (IOC) has signed a Memorandum of Understanding (MoU) with Punjab’s Cooperation Department. Under the MoU, the company will open its retail outlets on empty spaces available with cooperative institutions. The decision will help farmers get petrol, diesel, seeds, and fertilizers closer to their doorstep.

These outlets would also double up as Kisan Sewa Kendras for farmers where they would get fertilizers, seeds and agricultural implements. IOC is the largest enterprise in the country and the foremost ranked Fortune Global 500 Company in India and has a presence in the complete hydrocarbon value chain from downstream refining & marketing, pipeline transportation, Petrochemicals, E&P and Gas Marketing.

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