Indian Oil Corp. shares fall 1.26 per cent in Monday's trading session

Shares of Indian Oil Corporation Ltd. fell 1.26 per cent to Rs 98.0 in Monday's trade as of 01:13PM (IST) even as the benchmark Nifty ruled at 19381.8, up 50.0 points.

The scrip had closed at Rs 99.25 in the previous session. The stock quoted a 52-week low of Rs 65.2 and a high of Rs 101.44. The company quoted a market-cap of Rs 138345.77 crore on the BSE.

On BSE, 1,228,994 shares have changed hands on the counter so far. At its prevailing price, the stock traded at 14.13 times its trailing 12-month EPS of Rs 6.93 per share and 0.77 times its book value. The return on equity (ROE) stood at Rs 7.0.

Key Financials
For the quarter ended 31-Mar-2023, Indian Oil Corporation Ltd. reported consolidated sales of Rs 205087.53 crore, down 16.61 per cent from the same quarter a year ago. The company reported 54.83 per cent YoY growth in net profit at Rs 10289.82 crore for the latest quarter.

Technical indicators
The relative strength index (RSI) of the stock stood at Monday. The RSI oscillates between zero and 100. Traditionally, it is considered overbought condition when the RSI value is above 70 and oversold when it is below 30.

Analysts say the RSI indicator should not be seen in isolation, as it may not be sufficient to take a trading call, just the way a fundamental analyst cannot give a "buy" or "sell" recommendation using a single valuation ratio.