Shares of Indian Oil Corporation Ltd. gained 2.09% to Rs 172.75 in Tuesday’s session as of 10:25 AM (IST) even as the equity benchmark Sensex traded 119.64 points lower at 73,894.91. The stock witnessed a gap up start to the session. The stock quoted a 52-week high price of Rs 196.8 and a 52-week low of Rs 76.76 on NSE. Around 402,679 shares changed hands on the counter till 10:25 AM (IST).

The stock opened at Rs 169.65 and has touched an intraday high and low of Rs 173.45 and Rs 169.3 during the session so far. The stock quoted a price-to-earnings (PE) ratio of 5.22, earnings per share (EPS) of Rs 33.19, and price to book value (PB) of 0.77, while the return on equity (ROE) stood at Rs 7.0.

The promoters held 51.5% stake in the company as of April 02, while FII and MF ownership stood at 8.84% and 1.75%, respectively.

With a market capitalization of Rs 244,579.85 crore, the company operates in the Oil Refining & Marketing industry. For the quarter ended Dec 31, 2023, the company reported consolidated sales of Rs 201,173.88 crore, up 11.92% from the previous quarter’s Rs 179,752.15 crore and up 2.95% from the same quarter a year ago. The company reported a net profit of Rs 9,029.56 crore for the latest quarter, up 1067.77% from the corresponding quarter last year.

The relative strength index (RSI) of the stock stands at 55.58. The RSI oscillates between zero and 100. Traditionally, it is considered an overbought condition when the RSI value is above 70 and oversold condition 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.