INDIAN OIL CORPORATION HAS LINKED WITH SBI IN THE EXTERNAL COMMERCIAL BORROWING MARKET

The country’s largest lender State Bank of India (SBI) had inked the first deal in the external commercial borrowing (ECB) market using the new Secured Overnight Financing Rate (SOFR). SBI and Indian Oil Corporation (IOCL) have inked a $100 million deal for five years.

The Board of Indian Oil Corporation Ltd declared a second interim dividend of ₹3 per share for the ongoing financial year. The dividend shall be paid by April 15.

India’s state-run refiners have abandoned plans to build second generation or 2G ethanol plants, and will instead set up first generation or 1G plant, which are more cost-effective.

IOC is quoting at Rs.98.30,up by 0.10 points or 0.05% on NSE. It Touched intraday high of Rs.99.50 and low of Rs.97.50.