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Shares of state-owned Indian Oil Corporation (IOC) are expected to remain in focus today after the company announced that it will provide fueling services at Noida International Airport (NIA) in Jewar, Uttar Pradesh . Under a 30-year concession agreement, IOC will operate fuel stations at three locations within the airport premises- near the main western access road for passengers, at the airside for airport operations , and close to the eastern cargo precinct, as reported by ET earlier. "Our collaboration with Indian Oil Corporation Ltd marks another milestone in NIA's journey to operational readiness.
By partnering with IOCL, we will ensure seamless and efficient fueling services at the airport," said Christoph Schnellmann, CEO, Noida International Airport. This collaboration underscores our commitment to innovation, sustainability, and customer convenience, said Sumeet Munshi, Divisional Retail Sales Head, Noida Divisional Office, Indian Oil Corporation. The airport is expected to be inaugurated early next fiscal, according to a statement released on Thursday.
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On charts, the stock of IOC is placed above its short-term exponential moving average (10 DEMA), but below its medium and long-term EMAs (20, 50, 100, and 200 DEMA). Additionally, the stock is currently oscillating near the 47 mark on the relative strength indicator (RSI), according to the Trendlyne data. IOC shares closed flat with a positive bias at Rs 137.
90 on the BSE in the previous trading session. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel ).
