Oil India shares fall 3% after Nifty F&O inclusion; key detail inside

Oil India shares also are trading ex-dividend today, following the interim dividend announcement of Rs 3 per share for the financial year 2024-25

Shares of state-owned oil exploration company, Oil India, fell 3.43 per cent to the day’s low of Rs 464.90 on the BSE during intra-day trading on Thursday. The stock declined following the National Stock Exchange (NSE)'s announcement of adding the Maharatna stock to its F&O listing. Besides Oil India, 44 other companies will be included in the F&O list and will begin trading in the segment from November 29, 2024.

 

The fall also coincides with Oil India’s announcement of an interim dividend of Rs 3 per share for the financial year 2024-25. Shares of Oil India are trading ex-dividend today. In a regulatory filing, the company informed the exchange that it has fixed November 14 as the record date to determine shareholder eligibility for the interim dividend for FY 2024-25. "The interim dividend declared shall be paid on or before December 4, 2024," said Oil India.

 

Oil India (OIL) is a central public sector undertaking operating in the exploration, development, and production of crude oil and natural gas, as well as the transportation of crude oil and the production of liquefied petroleum gas. With operations spanning over 62,000 sq. km across India and offshore areas, OIL significantly contributes to India’s crude oil production.

 

As of November 14, 2024, Oil India boasts a market capitalisation of Rs 77,825.05 crore on the BSE. The company is a constituent of the BSE 200 index.

 

The Maharatna stock has yielded a return of 88.12 per cent year-to-date.

 

Shares of Oil India have a 52-week range of Rs 767.30 to Rs 195.93 on the BSE.

 

Around 12:00 PM on Thursday, Oil India shares were trading at Rs 478.50, down 0.24 per cent from the previous close of Rs 479.65 on the BSE. 

 

In comparison, the benchmark BSE Sensex was at 77,537.46, down 153.49 points or 0.20 per cent, and the NSE Nifty50 stood at around 23,528, down 31.05 points or 0.13 per cent.