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Oil India declines after weak Q2 results

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fell 1.83% to Rs 428.90 at 15:06 on after net profit fell 17.77% to Rs 580.27 crore on 8.10% decline in total income to Rs 2720.92 crore in Q2 September 2016 over Q2 September 2015.

The result was announced during trading hours today, 28 November 2016.

Meanwhile, the Sensex was up 51.71 points, or 0.20%, to 26,368.05.

On BSE, so far 1.68 lakh shares were traded in the counter, compared with average daily volume of 71,901 shares in the past one quarter. The stock hit a high of Rs 444.95 and a low of Rs 426.05 so far during the day. The stock hit a 52-week high of Rs 446 on 24 November 2016. The stock hit a record low of Rs 300.50 on 1 March 2016. The stock had outperformed the market over the past 30 days till 25 November 2016, rising 5.99% compared with the 5.73% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 13.63% as against Sensex's 5.28% decline.

The large-cap company has equity capital of Rs 601.14 crore. Face value per share is Rs 10.

Meanwhile, the company announced in a separate announcement today, 28 November 2016, that its board recommended issuing one bonus equity share for every three existing fully paid up equity share (1:3). The proposal is subject to approval of the shareholders.

The Government of held 67.64% stake in as per the shareholding pattern as on 30 September 2016.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, November 28 2016. 14:59 IST