Monday , 29 November 2021
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IOC jumps on planning to set up 10,000 charging stations for electric vehicles in next three years

IOC jumps on planning to set up 10,000 charging stations for electric vehicles in next three years

Indian Oil Corporation is currently trading at Rs. 140.10, up by 5.45 points or 4.05% from its previous closing of Rs. 134.65 on the BSE.

The scrip opened at Rs. 135.00 and has touched a high and low of Rs. 140.40 and Rs. 134.30 respectively. So far 1713865 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 140.00 on 18-Oct-2021 and a 52 week low of Rs. 78.25 on 05-Nov-2020.

Last one week high and low of the scrip stood at Rs. 140.40 and Rs. 126.60 respectively. The current market cap of the company is Rs. 131468.73 crore.

The promoters holding in the company stood at 51.50%, while Institutions and Non-Institutions held 11.89% and 36.60% respectively.

Indian Oil Corporation (IOC) is planning to set up 10,000 charging stations for electric vehicles (EVs) in the next three years as it prepares for the energy transition leading to net-zero by 2070. IOC plans to set up 50KW EV charging stations at every 25km and 100KW heavy-duty chargers at every 100km to weave a network that will provide customers easy access for charging their electric vehicles. The charging stations would be set up at existing and new petrol pumps across the country.

In the first year, IOC will target setting up 231 EV charging stations in nine high-priority cities of Mumbai, Delhi, Bangalore, Hyderabad, Ahmedabad, Chennai, Kolkata, Surat and Pune. Another 375 stations would be set up in the second year in these cities and a further 215 in the third year. In all, 944 charging stations would be set up in other State capitals over the three-year period but more than half of the 10,000 outlets planned would come up on highways and other cities.

IOC is the largest enterprise in the country and the foremost ranked Fortune Global 500 Company in India and has presence in the complete hydrocarbon value chain from downstream refining & marketing, pipeline transportation, Petrochemicals, E&P and Gas Marketing.