Indian Oil Shares: The Indian Oil Share has surged by 40% in just one month and has doubled investors’ money within six months.

News: Indian Oil Share: The shares of Indian Oil Corporation Limited have been on a rapid upward trajectory recently, showing impressive gains of 40% in just a month and doubling investments in six months. This positive momentum continues despite the sluggish market conditions today, with Indian Oil Share recording a 1.06% increase.

Brief Overview of Indian Oil Corporation Limited

Indian Oil Corporation Limited is a prestigious Maharatna company under the Government of India’s control. While its primary focus is on oil and gas, it also engages in refinery, pipeline, transportation, and petroleum product manufacturing along the hydrocarbon chain, as well as research and development in exploration and production. It stands out as a leader in India’s oil refinery sector.

Indian Oil Corporation, along with other companies in the oil and refinery sector, is set to invest Rs 1.2 trillion in the upcoming fiscal year, indicating potential growth in their business. This positive news, coupled with a technical breakout, has strengthened Indian Oil Share.

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Impressive Performance

The performance of Indian Oil Corporation Limited’s shares speaks for itself, with gains of 1.1% in the last day, 26.2% in the past week, 40.5% in the last month, an impressive 102.0% in the last six months, and an outstanding 135% over the past year. This consistent upward trend has garnered attention in the stock market.

52-Week Performance of Indian Oil Share

Looking at the 52-week performance of Indian Oil Corporation Limited, its shares hit a low of 75.75 on March 28, 2023, and reached a high of Rs 192.65 on February 7, 2024, indicating a trading close to its 52-week high. The stock has delivered a remarkable return of 154% during this period.

December Quarter Results

Indian Oil Corporation Limited has released its December quarter results, showing interesting details:

• In December 2022, the company generated a net revenue of Rs 232303.20 crore.
• In September 2023, the net revenue stood at Rs 205283.02 crore, and by December 2023, it increased to Rs 226892.08 crore, indicating growth on a quarter-on-quarter basis.
• The net profit for December 2022 was Rs 732.22 crores, which increased to Rs 13390.54 crores in September 2023 and further to Rs 8577.4 crores in December 2023. While there’s a decrease in profit on a quarter-on-quarter basis, the annual comparison shows an increase.

Shareholding Pattern

Being a government company, Indian Oil Corporation Limited’s majority shareholder is the government, holding 51.51% as of December 2023. The public holds the remaining 48.49%, with Foreign Institutional Investors (FIIs) holding 8.84%, Domestic Institutional Investors (DIIs) holding 29.51%, and Non-Institutional and Retail Investors holding 10.14%.

Indian Oil Corporation is a well-established and trustworthy company, backed by the government. Its recent strong performance in the stock market, coupled with good dividend payouts, makes it an attractive investment option for long-term investors, provided the shares are acquired at the right price.