Indian Oil Corp. shares gain 0.53% as Sensex falls
Indian Oil Corporation Ltd. traded 0.53 per cent up at Rs 93.3 at 11:31AM (IST) on Tuesday, even as BSE benchmark Sensex dropped 181.04 points to 65772.44. The stock had settled at Rs 92.81 in the previous session.
The stock quoted a 52-week high price of Rs 101.44 and 52-week low of Rs 65.2, respectively. As per BSE data, total traded volume on the counter till 11:31AM (IST) stood at 112860 shares with a turnover of Rs 104.0 crore. At the prevailing price, the stock traded at 5.34 times its trailing 12-month earnings per share of Rs 17.36 per share and 0.77 times its price-to-book value, BSE data showed.
A higher P/E ratio shows investors are willing to pay a higher share price today because of growth expectations in the future. Price-to-book value indicates the inherent value of a company and reflects the price investors are ready to pay even for no growth in the business. The stock's Beta value, which measures its volatility in relation to the broader market, stood at 1.4.Shareholding Details Promoters held 51.5 per cent stake in the company as of 30-Jun-2023, while FIIs owned 7.56 per cent and DIIs 2.2 per cent.Technicals On the technical charts, the relative strength index (RSI) of the stock stood at 39.17.
The RSI oscillates between zero and 100. Traditionally, it is considered overbought condition when the RSI value is above 70 and oversold condition when it is below 30. Chartists say, RSI should not be seen in isolation, as it may not be sufficient to take a trading call, just the way fundamental analysts cannot give a'buy' or'sell' recommendation using a single valuation ratio.
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