Indian Oil Corporation Ltd Karnataka blending dispute.

IOC Indian Oil plans to buy its own fleet of crude-oil and LPG carriers to strengthen supply-chain control amid West Asia tensions and soaring freight costs (spot rates rising from about $2.50 to $8–$10 per barrel); the board has approved a few vessel purchases, with tenders issued months ago, and the company is also exploring domestic shipbuilding under Make in India. In Q2 FY27, IOC reported consolidated net profit of ₹21,630 crore (versus a ₹2,661 crore loss in Q1 and ₹7,610 crore a year earlier), while IOC, BPCL and HPCL together posted ₹30,106 crore in Q2 profit, nearly 39% of their full-year FY26 earnings. On the market side, shares closed at ₹1,521.50 on November 7, down 0.10%, with a market cap near ₹2.15 lakh crore. In a regulatory development, LIC cut its stake in IOC from 7.887% to 5.879% via a market sale of 28.35 crore shares (disclosed November 6), while the company set November 10 as the record date for interest on its ₹2,500 crore Series-XXV NCDs (7.44% coupon, payable November 25). In a separate development, IOC, BPCL and HPCL rejected Karnataka’s claim of 26–31% ethanol blending at some outlets, saying tests across 27 states and 893 samples confirmed compliance with IS 17021 standards.