IOC adds 2% as co mulling purchase of IL&FS Paradip Refinery Water

NEW DELHI: Shares of Indian Oil Corporation gained 2 per cent in early trade Thursday after the state-owned company said it is exploring the option of acquiring IL&FS Paradip Refinery Water Ltd. IOC’s counter rose to a high of Rs 123.95 as against Rs 121.50 at previous close on the National Stock Exchange.

IL&FS Paradip Refinery Water Limited (IPRWL) was a project set up to meet the entire water requirement of the 15 MTPA Paradip Refinery Project developed by IOC in Odisha.