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IOC Plunges 3%; BSE OIL & GAS Index Down 2.2%
Wed, 11 Sep 14:30

IOC Plunges 3%; BSE OIL & GAS Index Down 2.2%Image source: bluebay2014/www.istockphoto.com

IOC share price has plunged 3% and is presently trading at Rs 170.1.

Meanwhile, the BSE OIL & GAS index is at 30,362.0 (down 2.2%).

Among the top losers in the BSE OIL & GAS index today are ONGC (down 3.8%) and HPCL (down 2.6%).

Over the last one year, IOC has moved up from Rs 95.2 to Rs 170.1, registering a gain of Rs 74.9 (up 78.7%).

On the other hand, the BSE OIL & GAS index has moved up from 19,578.7 to 30,362.0, registering a gain of 55.1% during the last 12 months.

The top gainers among the BSE OIL & GAS index stocks during this same period were HPCL (up 131.6%), BPCL (up 86.9%) and IOC (up 78.7%).

Must See: These Segments are Witnessing Incredible Growth with Modi's Push

What About the Benchmark Indices?

The BSE Sensex is at 81,648.4 (down 0.3%).

The top losers among the BSE Sensex today are Tata Motors (down 5.8%) and NTPC (down 1.6%). The most traded stocks in the BSE Sensex are Tata Motors and Tata Steel.

In the meantime, NSE Nifty is at 24,940.3 (down 0.4%). Tata Motors and ONGC are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 67,127.1 to 81,648.4, registering a gain of 14,521.3 points (up 21.6%).

IOC Financial Update...

IOC net profit fell 78.1% YoY to Rs 31,515 million for the quarter ended June 2024, compared to a profit of Rs 143,962 million a year ago. Net sales declined 2.5% to Rs 2,198,643 million during the period as against Rs 2,254,105 million in April-June 2023.

For the year ended March 2024, IOC reported 268.8% increase in net profit to Rs 431,612 million compared to net profit of Rs 117,043 million during FY23. Revenue of the company fell 8.3% to Rs 6,714,683 million during FY24.

The current Price to earnings ratio of IOC, based on rolling 12 month earnings, stands at 7.9.

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