Shares of Indian Oil Corp. fall as Nifty drops

Shares of Indian Oil Corporation Ltd. slipped 0.45 per cent to Rs 90.4 in Thursday's trade as of 01:11PM (IST). It hit a high of Rs 90.9 and low of Rs 89.75 during the session.

The stock quoted a 52-week high price of Rs 91.43 and a low of Rs 65.2. The return on equity for the stock stood at 7.0 per cent. About 585,560 shares have changed hands on the counter so far.

The stock's beta value, which measures its volatility in relation to the broader market, stood at 1.4.

The scrip has been an outperformer, up 14.97 per cent in the past one year in comparison with a 13.79 per cent gain in Sensex.

Technicals
On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs 65.2 on June 08, while the 50-DMA was at Rs 83.07. If a stock trades well 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 a bearish trend and if trades between these averages, then it suggests the stock can go either way.

Promoter/FII Holding
Promoters held 51.5 per cent stake in Indian Oil Corporation Ltd. as of 31-Mar-2023. Mutual funds and foreign institutional investors held 2.25 per cent and 6.91 per cent stake.