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4-Traders Homepage  >  Equities  >  NATIONAL STOCK EXCHANGE OF INDIA  >  Indian Oil Corporation    IOC   INE242A01010

INDIAN OIL CORPORATION (IOC)
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Indian Oil : R&D signs Letter of Intent with IFRF, Haryana

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04/26/2018 | 12:36pm CEST

Gurgaon (Haryana) [India], Apr 26 (NewsVoir): The two social problems in India - Poverty and Hunger go hand in hand. Not every poor person is hungry, but almost all hungry people are poor. So, to eradicate the problem, we need to start with its root cause. ISKCON Food Relief Foundation, Haryana currently serves midday meal to more than two thousand schools in Haryana.

Indian Oil Corporation Limited (IOCL), R&D centre at Faridabad recognized the great work done by ISKCON Food Relief Foundation, Haryana (IFRF) in the field of Midday meal. Under its Corporate Social Responsibility scheme, the entire burden of Cooking gas and Delivery Vehicle's CNG will be borne by Indian Oil Corporation. On 23rd April, in the august presence of Honorable Minister of Industries and Environment (Government of Haryana), "Letter of Intent" was exchanged between IFRF's Vice Chairman-North India, Dhananjaya Krishna Das and TSR Gopalarao, IOCL-R&D's Chief General Manager.

The domestic waste from the households of Faridabad will be picked, segregated and converted into Biogas by a unique "Bio-Methanation Patented Plant" conceptualized in-house by the IOCL's R&D centre. The amazing CSR activity is the result of a joint collaboration by IOCL with HUDA (Haryana Urban Development Authority), MCF (Municipal Corporation of Faridabad), Ecogreen Energy and IFRF, Haryana. Speaking on the occasion Vipul Goel - Minister of Industries and Environment described IFRF as the true and deserving recipient of the CSR activity. Also Dr. SSV Ramakumar, Director - R&D centre felt privileged to help ISKCON Food Relief Foundation, Haryana in feeding 60 thousand students of the Faridabad district.

In regard to the alarming situation where 40 percent of all Indian children still remain malnourished, ISKCON Food Relief Foundation, Haryana with the motto "Food for Life" has started initiative #ZEROHUNGERHARYANA - an attempt to eradicate hunger and malnutrition to make Haryana - A Hunger Free State. With Act Social, one of the fastest growing cause marketing company as the program's implementing partner, ISKCON Food Relief Foundation (IFRF) shall endeavour to accelerate #ZEROHUNGERHARYANA as a state wise and then a country wise program. The campaign will enable and motivate children to go to schools regularly by providing them hygienic and nutritious food.

Act Social, being the implementation partner contributes majorly towards developing a sustainable support system to the program. It will help in building the capacities and make channel to bring in units together to nurture the program. The prospective partners for this cause are the food serving establishments whether in a hotel/food court or in a standalone kiosk. #ZEROHUNGERHARYANA aims to become a much bigger platform for all F&B outlets, Influencers, Media and other Organisations to come together in action for a sustained and healthier world.

ISKCON Food Relief Foundation, Haryana currently provides meals to Government Primary and Upper Primary Schools and is operational in four districts of Haryana - Gurugram, Palwal, Faridabad and Kurukshetra. With this, IFRF (Haryana) wishes to fill the hunger gap by serving sanctified food to the children in their growing years.

With the aim to bring large number of individuals to make efforts together to stop hunger, ISKCON Food Relief Foundation, Haryana along with Act Social calls everyone to partner and assist for adequate fundraising towards feeding the children in need. (NewsVoir)

(c) 2018 aninews.in All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ( INR)
Sales 2018 4 136 B
EBIT 2018 298 B
Net income 2018 205 B
Debt 2018 535 B
Yield 2018 5,75%
P/E ratio 2018 7,54
P/E ratio 2019 7,68
EV / Sales 2018 0,51x
EV / Sales 2019 0,45x
Capitalization 1 560 B
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Mean consensus OUTPERFORM
Number of Analysts 33
Average target price 239  INR
Spread / Average Target 49%
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Managers
NameTitle
Sanjiv Singh Chairman & Director-Refineries
Arun Kumar Sharma Finance Director & Director
Rajiv Khanna Executive Director-Finance, R&D
S. S. V. Ramakumar Director & Director-Research & Development
Parindu K. Bhagat Independent Non-Executive Director
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