Indian Oil Corp shares surge, Nifty gains
Indian Oil Corporation Ltd. witnessed a 3.02% surge in its shares as the Nifty index experienced gains. This article provides an overview of the recent stock performance, key financials, shareholding pattern, and valuation analysis of Indian Oil Corporation Ltd., a prominent player in the Oil Refining & Marketing industry.
Indian Oil Corporation Ltd.'s Stock Performance:
At 10:00 AM (IST), Indian Oil Corporation Ltd.'s shares traded 3.02% higher, with a significant trading volume of 1,004,354 shares. The stock opened at Rs 96.0 and reached an intraday high of Rs 98.75, while the intraday low was recorded
at Rs 96.0. The 52-week high and low of the stock were Rs 98.75 and Rs 65.2, respectively.
For the quarter ended on March 31, 2023, Indian Oil Corporation Ltd. reported consolidated sales of Rs 205,087.53 crore. This figure reflects a decrease of 1.06% compared to the previous quarter's sales of Rs 207,288.58 crore. Furthermore, it indicates a decline of 16.61% compared to the sales of Rs 175,872.72 crore in the same quarter of the previous year.
The net profit for the latest quarter stood at Rs 10,289.82 crore, representing a significant increase of
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54.83% compared to the corresponding quarter of the previous year.
As of March 31, 2023, Domestic Institutional Investors (DIIs) held a stake of 2.25% in Indian Oil Corporation Ltd., while foreign institutional investors (FIIs) held 6.91%. The promoters of the company retained the majority stake, amounting to 51.5%.
Based on BSE data, the stock of Indian Oil Corporation Ltd. traded at a P/E (Price-to-Earnings) multiple of 14.18. A higher P/E ratio suggests that investors are willing to pay a premium due to better growth expectations. The price-to-book (P/B) ratio of the stock stood
at 0.77, indicating the perceived value that investors are willing to pay, even in the absence of growth in the business.
Indian Oil Corporation Ltd., a key player in the Oil Refining & Marketing industry, experienced a 3.02% increase in its shares as the Nifty index surged. The company's financial performance showcased a decline in sales but witnessed a substantial growth in net profit. With DIIs, FIIs, and promoters holding significant stakes, Indian Oil Corporation Ltd. demonstrates a strong shareholder base. The valuation ratios of the stock suggest investor optimism regarding future growth prospects.