Indian Oil Corporation surged over 3% to Rs 567, after touching a high of Rs 576 and a low of Rs 551. Around 278,000 shares changed hands at the counter as compared to its two-week average traded quantity of 185,357 shares.
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(Updated 1101 hrs)
Indian Oil Corporation has gained on plans of increasing its auto LPG outlets.
The stock opened at Rs 555 and slipped to a low of Rs 551. From there the stock gained 2.5% to touch a high of Rs 565. It is now trading near its high at Rs 564. Over 61,687 shares have been traded on the counter so far.
The company plans to raise the number of auto LPG outlets to 300 from the already existing 230 dispensing stations in 124 cities. Auto LPG is costlier by 19% at Rs 29.26 a kg against CNG which is sold at Rs 24.65 a kg.
