Indian Oil shares in spotlight after co withdraws Rs 22,000 crore rights issue
- Posted on October 1, 2024
- By Business News Today
- 2 Views
Indian Oil shares in spotlight after co withdraws Rs 22,000 crore rights issue
Indian Oil Corporation (IOC) withdraws its Rs 22,000 crore rights issue due to the government's non-participation, stemming from the absence of allocated funds for oil marketing companies in the Budget 2024-25. IOC's Q1 2024 net profit fell 81% to Rs 2,643 crore, with revenue dropping 2% YoY.
