Shares of Indian Oil Corporation (IOC), a government-owned company, are drawing attention today after announcing an exciting deal. IOC will provide fueling services at the new Noida International Airport (NIA) in Jewar, Uttar Pradesh. This partnership is part of a special 30-year agreement.
IOC will set up fuel stations in three key spots at the airport: one near the main road for passengers, one for airport operations, and another near the cargo area. Christoph Schnellmann, the CEO of Noida International Airport, celebrated the partnership with IOC, saying it will help the airport be ready to serve travelers.
Sumeet Munshi, a leader at Indian Oil, highlighted that this collaboration is about innovation, sustainability, and making sure everyone has a great experience at the airport.
The airport is set to open early next fiscal year. In the last year, IOC shares have gone up by 5.7%. But in the past 6 and 3 months, the shares have dropped by 18% and 23%, respectively. Currently, IOC shares are trading near Rs 137.90 on the stock market.
Technical Snapshot: The stock is currently above its short-term moving average but is below its medium and long-term averages. The relative strength indicator (RSI) is around 47, indicating the stock’s price movement.
Stay tuned for more news on IOC and the exciting developments at Noida International Airport!
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