Indian Oil Corporation Hits New 52-Week High at Rs. 174.45

Indian Oil Corporation has reached a significant milestone by hitting a new 52-week high of Rs. 174.45 today. This achievement underscores the company's robust performance in the oil industry, particularly as it has consistently outperformed the broader market over the past year, generating a return of 24.95% compared to the Sensex's 7.30%.
The stock has shown a positive trend, gaining for the last four consecutive days, with a total increase of 2.94% during this period. Additionally, Indian Oil Corporation is trading above its key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages, indicating a strong market position.

In terms of financial health, the company reported impressive results for the quarter ending September 25, with a profit after tax of Rs. 7,817.55 crore, reflecting a remarkable growth of 105.8% compared to the previous four-quarter average. The operating profit to interest ratio stands at its highest at 7.16 times, further highlighting the company's solid financial footing.

With high institutional holdings at 37.7%, Indian Oil Corporation continues to demonstrate its appeal in the market, solidifying its status as a leading player in the oil sector.