Indian Oil Corp. shares gain 1.61% as Sensex rises

Shares of Indian Oil Corporation Ltd. traded 1.61 per cent higher in Wednesday's session at 10:20AM (IST). The stock opened at Rs 80.7 and has touched an intraday high and low of Rs 82.0 and Rs 80.6, respectively, during the session so far.

The stock quoted a 52-week high of Rs 90.67 and a 52-week low of 65.2. About 690,429 shares changed hands on the counter so far.

Benchmark Nifty50 was up 34.2 points at 17948.35, while the BSE Sensex traded 164.72 points higher at 60280.2 at the time of writing of this report.

In the Nifty pack, 31 stocks traded the day in the green, while 19 were in the red.


Key Financials
For the quarter ended 30-Sep-2022, the company reported consolidated sales of Rs 233800.98 crore, down 8.67 per cent from the previous quarter's Rs 256004.6 crore and down 35.42 per cent from the year-ago quarter. The company reported net loss of Rs 991.55 crore for the latest quarter.

Promoter Holdings
Promoters held 51.5 per cent stake in the company as of 30-Sep-2022, while FIIs held 16.59 per cent and MFs 2.09 per cent.

Technicals
On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 74.52 on January 11, while the 50-DMA was at Rs 74.67. 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.