Monday, November 1, 2021

IOC PAT UP 3% YOY IN Q2 | BIG DIVIDEND | STOCK OUTLOOK

     


Indian Oil's consolidated net profit rises 2.95% yoy in Q2; GRM at $6.57 per barrel

The board has declared an Interim Dividend of 50% i.e. Rs5/- per equity share of face value of Rs10/- each for the year 2021-2022.



Shares of Indian Oil Corporation (IOC) was up over 1.4% in the afternoon deal on Monday’s trade. The net profit of Indian Oil Corporation (IOC) was up 2.95% to Rs6203.74cr in the quarter ended September 2021 as against Rs6025.81cr during the previous quarter ended September 2020. Sales rose 63.02% to Rs133202.17cr in the quarter ended September 2021 as against Rs81708.88cr during the previous quarter ended September 2020.

Average Gross Refining Margin (GRM) for the period April - September 2021 is $6.57 per bbl (April - September 2020: $3.46 per bbl). The core GRM or the current price GRM for the period April- September 2021 after offsetting inventory loss/ gain comes to $3.47 per bbl, IOC said in the release.


STOCK OUTLOOK

Stock looks bullish in long term can test 174 -188. In short term also looks positive. Follow buy on dips . Also IOC announces Rs 5 per share dividend nearly 4 % which is also very attractive for shareholders. 



Disclaimer- The information on this blog are based on my personal opinion and experience, it should not be considered professional financial investment advice and in no way it should be considered as a tip. We does not take any compensation of any kind whatsoever from any reader, user and company that are mention on this website. We are not SEBI registered financial advisor or analyst.


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