Indian Oil Corp. shares gain 0.74% as Sensex rises

Shares of Indian Oil Corporation Ltd. traded 0.74 per cent higher in Friday's session at 11:21AM (IST). The stock opened at Rs 89.39 and has touched an intraday high and low of Rs 90.0 and Rs 88.83, respectively, during the session so far.

The stock quoted a 52-week high of Rs 101.44 and a 52-week low of 65.2. About 457,815 shares changed hands on the counter so far.

Benchmark Nifty50 was up 84.95 points at 19338.75, while the BSE Sensex traded 215.28 points higher at 65046.69 at the time of writing of this report.

In the Nifty pack, 39 stocks traded the day in the green, while 11 were in the red.


Key Financials
For the quarter ended 30-Jun-2023, the company reported consolidated sales of Rs 199165.39 crore, down 2.89 per cent from the previous quarter's Rs 205087.53 crore and down 11.1 per cent from the year-ago quarter. The company reported net profit of Rs 14436.96 crore for the latest quarter.

Promoter Holdings
Promoters held 51.5 per cent stake in the company as of 30-Jun-2023, while FIIs held 7.56 per cent and MFs 2.2 per cent.

Technicals
On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 83.9 on September 01, while the 50-DMA was at Rs 94.21. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered as bearish trend and if trades between these averages, then it suggests the stock can go either way.