Indian Oil Corp. shares gain 1.26% as Sensex falls

Shares of Indian Oil Corporation Ltd. traded 1.26 per cent higher in Wednesday's session at 10:53AM (IST). The stock opened at Rs 119.7 and has touched an intraday high and low of Rs 122.1 and Rs 119.25, respectively, during the session so far.

The stock quoted a 52-week high of Rs 141.75 and a 52-week low of 86.7. About 497,611 shares changed hands on the counter so far.

Benchmark Nifty50 was down 43.45 points at 17309.00, while the BSE Sensex traded 208.35 points lower at 57933.7 at the time of writing of this report.

In the Nifty pack, 16 stocks traded the day in the green, while 34 were in the red.


Key Financials
For the quarter ended 31-Dec-2021, the company reported consolidated sales of Rs 166482.22 crore, down 3.57 per cent from the previous quarter's Rs 172646.31 crore and down 61.75 per cent from the year-ago quarter. The company reported net profit of Rs 6143.08 crore for the latest quarter.

Promoter Holdings
Promoters held 51.5 per cent stake in the company as of 31-Dec-2021, while FIIs held 16.43 per cent and MFs 3.38 per cent.

Technicals
On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 115.85 on February 16, while the 50-DMA was at Rs 118.4. 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.