/ IOC Sizzles On Bourses Up By 6% ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Tuesday, 3 January 2017

The oil marketing & distribution major IOC surged 6.5% intra-day at Rs 348 breaking its all time high of 333 levels.

This spurt was driven by higher earnings expectations, full utilisation of its Paradip refinery expected by March 2017 and gradual rise in the international crude oil prices throughout the year 2017.
Going forward the company’s Paradip refinery is expected to produce high margin products like diesel, ATF and gasoline. Paradip refinery was operating at just 43% of its capacity at 15 MTPA as on September 2016 and is now likely to work at full capacity with operating matrix similar to that of Reliance’s refinery.

The refinery’s complexity will be measured by comparing it with the benchmark Nelson complexity. Hence, Paradip’s complexity is likely to report at 12.2, which will be just below the complexity index of RIL at 12.7.

Apart from this, expected rise in international crude oil prices up to 63$/barrel during 2017 will also push the stock price to report new highs. Whereas, Paradip refinery being a coastal one will help to reduce inventory loss and thereby offset the volatility in crude oil prices going forward. 

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