Why IOC Share Price is Rising

As India's economy grows, so does its energy demand. The need for oil and gas will rise, making the sector an option for long-term investors.

Indian Oil Corporation (IOC) is a major player in India's energy sector, handling the refining and distribution of oil across the country.

Its share price has been rising today.

What's behind this rally?

Let's break it down...

OPEC+ Output Hike

Shares of oil marketing companies (OMC) jumped higher after crude oil prices dropped.

This happened after the Organization of the Petroleum Exporting Countries, known as OPEC+, announced a bigger than expected increase in oil production for the next month. This benefits the oil marketing companies as crude oil is the raw material for them.

OPEC+ recently announced plans to increase oil production by 548,000 barrels per day in August. This is a bigger boost than the 411,000 barrels per day increase the group had decided on for the last few months.

It decided to increase oil production due to the stable global economic growth and healthy market conditions.

The drop in oil prices has benefited IOC and thus, its share price rose over 1%.

What Next?

Indian's oil demand is expected to grow by 8.3 million per day by 2050. IOC is aiming for significant growth in this rising demand scenario.

IOC aims to reach net-zero emissions by 2046 by focusing on renewable energy, improving efficiency and reducing its carbon footprint. By 2050, it aims to generate 200 GW of renewable energy and produce millions of tons of biofuel and biogas.

Also, it has big plans to grow into a US $1 trillion company by 2047 by combining oil business with clean energy initiatives like green hydrogen and EV charging.

The company is working on renewable energy, aiming for 31 GW capacity by 2030 through solar, wind, hydro, and bioenergy projects. It has already taken a big step towards sustainability by powering most operations at its retail outlets with solar energy.

In fact, IOC plans on meeting one-eighth of India's energy needs by 2050, positioning itself as a pillar of India's future energy landscape.

It's also boosting its petrochemical production capacity, which is expected to be more than triple by 2030. New plants are being set up at Gujarat and Panipat refineries, and lube oil capacity is being increased at Haldia.

How IOC Share Price has Performed Recently

IOC's share price has risen about 7% in the past month and recorded a strong gain of 14% over the past six months.

Over the past one year, the share price declined 11%.

The stock touched its 52-week high of Rs 185.95 on 30 July 2024 and a 52-week low of Rs 110.75 on 3 March 2025.

About IOC

IOC is a Maharatna company controlled by the government of India.

Its business straddles the entire hydrocarbon value chain - from refining, pipeline transportation and marketing of petroleum products to R&D, exploration & production, and marketing of natural gas and petrochemicals.

It has a network of fuel stations, bulk storage terminals, inland depots, aviation fuel stations, LPG bottling plants, and lube blending plants.

It also has set up approximately 257 electric vehicle (EV) charging station and 29 battery swapping stations at its energy pumps across the country.

For more details about the company, you can have a look at Indian Oil Corporation's financial factsheet and latest quarterly result.

For a sector overview, read our energy sector report.

You can also compare Indian Oil Corporation with its peers.

IOC vs BPCL

IOC vs HPCL

IOC vs MRPL

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

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