Indian Oil Corporation Limited (IOC) experienced a significant drop in its stock price, trading down by 5.37% at ₹137.20 on the NSE, a decrease from the previous close of ₹144.99. This decline has led to an estimated market cap loss of ₹10,428 crore, bringing the company’s total market cap to approximately ₹1,93,686.91 crore.
The dip in IOC’s share price aligns with broader market trends affecting the oil and energy sector, as investors respond to fluctuating oil prices and global economic conditions. IOC remains a key player in India’s refining and marketing industry.
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