BHEL stated on Monday that it has received a Rs.105-crore deal from Indian Oil Corporation to establish an imprisoned power refinery at the latter’s Barauni Refinery Complex.

Markets have become unstable and have fallen severely in the post noon trades due to selling seen in the index bigwigs such as NTPC, Sun Pharmacy, Reliance Industries, ONGC and Infosys.

Refinery and petrochemical complex venture of Indian Oil Corporation at Paradip in Orissa that was planned to start saleable operations in the year 2010, has been postponed and is likely to be finished by the August of 2012 and is likely to get functional by the November of 2012.

The Sensex rushed 215 points to end at 14,840 after reaching an up of 14,907 and a down of 14,655.

Indian Oil Corporation posted today a net gain of Rs.6,622.96 crore in the 4th quarter closed on 31st March, whereas it got a net decline of Rs.414.27 crore in the consequent period in 2007.