Indian Oil Corporation Ltd. shares fall 0.05% as Nifty drops

Indian Oil Corporation Limited (IOCL), is an Indian government-owned enterprise and oil and gas entity owned by the Ministry of Petroleum and the Government of India. While it is the largest commercial oil company in the country, with a net profit of Rs. 19,106 crore for the financial year 2016-17.

In May 2018, IOCL became India’s most profitable state-owned company for the second consecutive year, with a record profit of Rs. 21,346 crores in 2017-18. By 1st April 2020, IndianOil was in absolute readiness to launch BS-VI fuels in all its retail outlets in Telangana.

Moreover, shares of Indian Oil Corporation Ltd. traded 0.05 percent down at Rs. 98.15 on Thursday. While the benchmark BSE Sensex advanced 197.86 points to 49999.48. As many as 7,32,728 shares changed hands on the counter with a total value of Rs. 7.2 crore.

On the other side, the stock quoted a 52-week high price of Rs. 105.0 and a 52-week low of Rs. 71.15. On the technical charts, the 200-DMA of the stock stood at Rs. 88.47. While 50-DMA was at Rs. 98.33. If a stock trades above 50 DMA and 200 DMA, it usually means the immediate trend is up.

However, if the stock trades below 50 DMA and 200 DMA both, it is considered a bearish trend, and if it trades between 50 DMA and 200 DMA, then it suggests the stock can go anywhere. Shares of the company have advanced 11.53 percent in the past year. While Sensex has risen 63.51 percent during the same period.

As per BSE data, the stock trades at a price-to-earnings multiple of 18.69 and a price-to-book ratio of 0.79. Moreover, a higher P/E ratio shows investors are willing to pay a higher price because of better future growth expectations. Price to book value indicates the inherent value of a company and reflects the price that investors are ready to pay even for no growth in a business. The stock belongs to the Oil Refining & Marketing industry.