It rose from Rs 89.70 as on 31st October 2023 to Rs 111.25 recorded on 1st December 2023 which translates into an upside of 24% in a month. It has rallied more than 10% in a week.
Indian Oil Corporation’s daily trend is bullish to sideways. The RSI for weekly and daily is showing sideways momentum. But the RSI for monthly is showing bullish momentum. Based on option chain analysis, the range is between 90 and 100. Let’s plan a trade around this.
IOC is expected to report operationally strong June quarter results due to sharp recovery in marketing margins, which Prabhudas Lilladher expects at Rs 9 per litre (blended margins).
ICICI Securities has hold call on
Indian Oil Corporation Ltd. with a target price of Rs 110. The current market price of Indian Oil Corporation Ltd. is Rs 106.5.
Indian Oil Corporation Ltd., incorporated in the year 1959, is a Large Cap company (having a market cap of Rs 100731.50 Crore) operating in Gas & Petroleum sector.
Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 120460.02 Crore, down -19.03 % from last quarter Total Income of Rs 148769.23 Crore and up 1.01 % from last year same quarter Total Income of Rs 119255.60 Crore. Company reported net profit after tax of Rs 8577.37 Crore in latest quarter.