Oil marketers float biodiesel tender worth ₹1,320 crore
India’s three state-run oil marketers floated a ₹1,320 crore tender for 15 crore litres of B100 biodiesel at ₹88 per litre. All three stocks rose on 3 Nov, while futures open interest fell, indicating short covering.
after close1 source ↓machine-written, see hownot a recommendation
- BPCL close
- ₹296.90
- On the day
- +1.31%
- Futures OI, short covering
- -1.4%
- Put-call ratio
- 0.92
- Max pain
- ₹295.00
India’s three state-run oil marketers — Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation — jointly floated a tender to procure 15 crore litres of B100 biodiesel at ₹88 per litre. The ₹1,320 crore purchase covers supplies from November 2026 to January 2027, with deliveries planned across 85 locations nationwide for blending with conventional diesel under the government’s biodiesel-blending programme ⚡
Key points:
• Bids must be submitted by 7 Nov 2026. The tender is not yet a final supply award, so supplier selection, allocation and delivery schedules remain pending.
• The order provides near-term demand visibility for biodiesel producers and feedstock processors 🌱, while adding a procurement requirement for the three oil marketers. The programme also supports continued use of renewable fuel in the transport chain.
• OI Charts data for 3 Nov 2026 showed all three oil marketers closing higher. Indian Oil Corporation rose 3.0% to ₹138.67 on volume of 1.69 crore shares, Bharat Petroleum Corporation gained 1.3% to ₹296.90 on 42.3 lakh shares, and Hindustan Petroleum Corporation advanced 1.3% to ₹352.50 on 50.3 lakh shares.
The derivatives setup pointed to short covering across the group rather than fresh long build-up. Futures open interest fell 2.1% for Indian Oil Corporation, 1.4% for Bharat Petroleum Corporation and 2.5% for Hindustan Petroleum Corporation. Their futures premiums stood at -0.45%, -0.10% and 0.71%, respectively, while put-call ratios were 1.24, 0.92 and 1.18.
For the 23 Nov 2026 expiry, max pain was ₹135 for Indian Oil Corporation, ₹295 for Bharat Petroleum Corporation and ₹350 for Hindustan Petroleum Corporation. The largest call open-interest strikes were ₹150, ₹300 and ₹360, while the largest put open-interest strikes were ₹125, ₹290 and ₹350, respectively. These levels provide nearby reference points as the tender process moves toward its deadline.
Indian Oil Corporation had gained 5.2% over five sessions and 2.8% over 20 sessions. Bharat Petroleum Corporation was down 2.1% over 20 sessions, while Hindustan Petroleum Corporation was up 0.6%. Traders will watch the 7 Nov bid deadline, supplier announcements and subsequent delivery execution across the 85 locations.
Source: Inshorts, 03 Nov 2026
Not investment advice. For informational purposes only.