Indian Oil Corporation rose 6.63% to Rs 656.80 at 12:20 IST on BSE after the company fixed 19 October 2016 as the record date for 1:1 bonus issue.
The announcement was made after market hours yesterday, 5 October 2016.Meanwhile, the BSE Sensex was up 75.68 points, or 0.27%, to 28,296.66.
On BSE, so far 3.17 lakh shares were traded in the counter, compared with average daily volume of 3.02 lakh shares in the past one quarter. The stock hit a high of Rs 656 so far during the day, which is also a record high for the counter. The stock hit a low of Rs 618 so far during the day. The stock hit a 52-week low of Rs 345.05 on 12 February 2016. The stock had outperformed the market over the past 30 days till 5 October 2016, rising 7.45% compared with 2.61% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 30.17% as against Sensex's 3.75% rise.
The large-cap company has equity capital of Rs 2427.95 crore. Face value per share is Rs 10.
Meanwhile, an Indian consortium led by Oil India including Indian Oil Corporation (IOCL) and Bharat PetroResources (BPRL), a 100% subsidiary of BPCL, have successfully completed two landmark acquisitions of producing upstream assets in Russia. The consortium acquired 29.9% stake in LLC Taas-Yuryakh Neftegazodobycha (Taas Yuryakh) and 23.9% stake in JSC Vankorneft (Vankorneft) from Rosneft Oil Company, the national oil company of Russia.
Shares of Oil India were up 2.17% at Rs 419.75. Shares of BPCL were up 4.85% at Rs 679.50.
Indian Oil Corporation (IOCL)'s net profit rose 25.5% to Rs 8268.98 crore on 15.3% fall in net sales to Rs 85655.31 crore in Q1 June 2016 over Q1 June 2015.
IOCL is India's flagship national oil company, with business interests that straddle the entire hydrocarbon value chain - from refining, pipeline transportation and marketing of petroleum products to exploration & production of crude oil & gas as well as marketing of natural gas and petrochemicals. The Government of India held 58.28% stake in IOCL (as per the shareholding pattern as on 30 June 2016).
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