Indian Oil Corp. shares gain 0.16% as Sensex rises

Shares of Indian Oil Corporation Ltd. traded 0.16 per cent higher in Monday's session at 12:46PM (IST). The stock opened at Rs 82.8 and has touched an intraday high and low of Rs 83.26 and Rs 82.45, respectively, during the session so far.

The stock quoted a 52-week high of Rs 85.4 and a 52-week low of 65.2. About 274,705 shares changed hands on the counter so far.

Benchmark Nifty50 was up 202.75 points at 18271.75, while the BSE Sensex traded 753.76 points higher at 61808.05 at the time of writing of this report.

In the Nifty pack, 39 stocks traded the day in the green, while 10 were in the red.


Key Financials
For the quarter ended 31-Dec-2022, the company reported consolidated sales of Rs 233876.46 crore, up 0.03 per cent from the previous quarter's Rs 233800.98 crore and up 40.48 per cent from the year-ago quarter. The company reported net profit of Rs 773.23 crore for the latest quarter.

Promoter Holdings
Promoters held 51.5 per cent stake in the company as of 31-Mar-2023, while FIIs held 6.91 per cent and MFs 2.25 per cent.

Technicals
On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 74.77 on May 08, while the 50-DMA was at Rs 78.73. 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.