Indian Oil shines as crude oil prices declines

22 Sep 2011 Evaluate

Indian Oil Corporation (IOC) is currently trading at Rs 311.00, up by 2.95 points or 0.96% from its previous closing of Rs 308.05 on the BSE.

The scrip opened at Rs 306.50 and has touched a high and low of Rs 311.90 and Rs 305.20 respectively. So far 29652 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 456.70 on 28-Sep-2010 and a 52 week low of Rs 290.00 on 25-Feb-2011.

Last one week high and low of the scrip stood at Rs 328.80 and Rs 305.20 respectively. The current market cap of the company is Rs 74793.08 crore.

The promoters holding in the company stood at 78.92% while Institutions and Non-Institutions held 5.93% and 15.15% respectively.

Crude prices resumed their declining trend on Wednesday after the Federal Reserve announced plans to boost the US economy by purchasing longer-dated government debt by selling $400 billion worth of short-term securities. The dollar strengthened on the news and the stock markets plunged, suffering their worst one-day drop in a month, along with Warning of “significant” downside economic risks weighed on the crude prices.

Meanwhile, the Energy Information Administration's (EIA) in its oil inventory report for the week ended September 16 showed that crude stocks declined 7.3 million barrels while, gasoline stocks rose 3.3 million barrels, and distillate stocks declined 0.9 million barrels.

Benchmark crude for November delivery settled down $1, or 1.15%, at $85.92 after trading in a range between $85.05 and $87.99 on the New York Mercantile Exchange. In London, Brent crude for November delivery settled down 18 cents, or 0.16%, at $110.36 a barrel on the ICE.

Indian Oil Corp. Share Price

162.40 0.45 (0.28%)
31-May-2024 16:01 View Price Chart
Peers
Company Name CMP
Reliance Industries 2859.60
Indian Oil Corp. 162.40
BPCL 627.60
HPCL 537.05
MRPL 203.15
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