OIL & GAS

Indian Oil’s prospects of bumper profits and other factors why it is stock pick of the week

Indian Oil Corporation (IOC), the largest domestic oil marketing company (OMC) with more than 29,000 retail outlets, has reported bumper profits in the second quarter of 2020-21 and is expected to repeat the same in the third quarter. Opening up of the economy and resumption of economic activities after a long haul are helping OMCs like IOC. India’s oil demand was up 4% m-o-m in December, which was a fourth consecutive m-o-m growth.

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ET News
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