Oil India gains on bargain hunting

Meanwhile, the S&P BSE Sensex was up 155.93 points, or 0.79%, to 19,831.99.

On BSE, 18,000 shares were traded in the counter as against an average daily volume of 47,053 shares in the past one quarter.

The stock hit a high of Rs 543 and a low of Rs 523.05 so far during the day. The stock had hit a 52-week high of Rs 629.70 on 31 May 2013. The stock had hit a 52-week low of Rs 432 on 14 December 2012.

The stock had underperformed the market over the past one month till 11 July 2013, sliding 5.31% compared with the Sensex's 2.78% rise. The scrip had also underperformed the market in past one quarter, rising 0.06% as against Sensex's 6.12% rise.

The large-cap company has an equity capital of Rs 601.13 crore. Face value per share is Rs 10.

Oil India's net profit rose 71.9% to Rs 764.55 crore on 38.2% increase in net sales to Rs 2376.58 crore in Q4 March 2013 over Q4 March 2012.

Oil India is a public sector oil and gas company under the administrative control of the Ministry of Petroleum and Natural Gas, Government of India (GoI). The company is engaged in the business of exploration, development and production of crude oil and natural gas, transportation of crude oil and production of liquid petroleum gas. The GoI holds 68.43% stake in Oil India (as on 30 June 2013).

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