Indian Oil Corporation Limited formed a strategic capital partnership with Sun Mobility alongside its private fundraise, with Nomura involved in the sell-side transaction, according to Nomura's India investment banking head Amit Thawani.

Indian Oil Corporation Ltd is seeing increased demand for its premium XP95 high-octane petrol as consumers, worried about E20's impact on mileage and engine life, trade up from regular petrol despite both fuels containing 20% ethanol. Dealers report premium petrol's share rising to 12-15% from about 4% in March, with XP95 priced at Rs 110-115 a litre versus about Rs 102 for regular petrol.

Indian Oil Corporation Limited signed a sales and purchase agreement with the Government of Mauritius to supply refined petroleum products including petrol, diesel and aviation fuel as part of a long-term arrangement announced during Union Minister Hardeep Puri's visit, with the Mauritian government stating the deal was complemented by a government-to-government memorandum of understanding on oil and gas cooperation.

Indian Oil Corporation Limited has finalised a deal with Algeria's Sonatrach to lift one very large gas carrier of 45,000 to 55,000 metric tons of LPG per month in 2027 on a free-on-board basis, with Algerian prices reported lower than the Saudi Aramco Contract Price, as India diversifies from Middle East supplies after Strait of Hormuz disruptions.

Indian Oil Corporation Limited is a founding member of the not-for-profit MC² Foundation, a new platform where oil and gas PSUs will pool capital and infrastructure to back energy and industrial deeptech startups, with an expected collective commitment of Rs 70-80 crore in the first year, a separately planned Rs 2,000-crore growth-stage fund, and a newly launched energy accelerator.

JM Financial has reaffirmed a Reduce rating on Indian Oil Corporation Limited with a target price of Rs 135, citing valuation above trough levels, expected delays in under-recovery including LPG, elevated crude around $80 a barrel and structural capex concerns. The brokerage estimated OMCs' weighted average auto-fuel integrated gross margin at Rs 9 per litre versus Rs 12.5 per litre historically and said a normalised margin of Rs 12.5 per litre would require landed Brent around $95 a barrel aided by a Rs 10 per litre excise cut and Rs 7.5 per litre price hike. Indian Oil Corporation Limited's book value was Rs 154 per share at end-Q1FY27 versus Rs 155 at end-FY26, trading at 0.9 times price-to-book.