Indian Oil Corporation Hits New 52-Week High at Rs.171.4

Indian Oil Corporation has reached a significant milestone by hitting a new 52-week high of Rs. 171.4 today. This achievement underscores the company's strong performance in the oil industry, particularly as it has consistently outperformed the broader market over the past year, generating a return of 20.23% compared to the Sensex's 5.13%. The stock has shown resilience, gaining for the last two days with a modest increase of 0.56% during this period. Notably, 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 robust market position. In terms of financial health, the company reported impressive growth in net sales at an annual rate of 14.63% and a remarkable operating profit growth of 28.19%. The latest quarterly results also highlighted a significant increase in profit after tax, which grew by 105.8% compared to the previous four-quarter average. With high institutional holdings at 37.7%, Indian Oil Corporation continues to demonstrate its strong fundamentals and market leadership within the large-cap segment.