Shares of Indian Oil Corporation were up nearly 2% at Rs 360 on the BSE after posting 40% rise in net profit to Rs. 7019 crore for the year ended March 31, 2014 as compared to Rs. 5005 crore for the year ended March 31, 2013.
Total Income of the company increased from Rs. 450611 crore for the year ended March 31, 2013 to Rs. 476627 crore for the year ended March 31, 2014.
“The country's biggest refiner Indian Oil Corporation will raise $1.65 billion debt in overseas market in the current financial year. The company will raise $900 million through external commercial borrowings to replace short-term costlier loan while another $750 million will be raised over the financial year,’’ its director finance PK Goyal said.
The stock opened at Rs 355, touched a high of Rs 361.75 and a low of Rs 355 on the BSE. Over 145,511 shares were traded on both the stock exchanges so far.
