Stock of Interest

Posted On: July 21, 2023

Stock Report : IOC (NSE) 20 Jul 2023

Indian Oil Corporation Limited (IOCL), often known as IndianOil, is a significant Indian multinational oil and gas business owned by the Government of India’s Ministry of Petroleum and Natural Gas. IOCL works through seven key business divisions that span the full hydrocarbon value chain: refineries, pipelines, marketing, research and development, petrochemicals, exploration and production (E&P), and explosives and cryogenics.IOCL’s financial performance as of 2023 demonstrates its substantial scale and effect in the energy sector. Revenue has climbed to 955,608.86 crore (US$120 billion), demonstrating the company’s strong commercial operations and market presence. However, both operational income, which stands at 14,175.50 crore (US$1.8 billion), and net income, which is at 9,792.12 crore (US$1.2 billion), have decreased. Indian Oil Corporation Limited (IOCL) shows robust financial stability and growth potential, evident from the increase in total assets to ₹441,762.09 crore (US$55 billion) and total equity to ₹143,214.34 crore (US$18 billion) in 2023. Despite a decrease in income figures, the company remains strong.With the support of the Ministry of Petroleum and Natural Gas, Government of India, and a dedicated workforce of 33,498 employees (as of 2021), IOCL is a leading player in India’s energy sector. Its multifaceted operations and commitment to research and development contribute significantly to the nation’s energy security and economic prosperity. 

#xCalData predicts #IOC will continue its Bullish phase over the next five days and trend in the range of 100 to 96. 

In comparison to the previous month, the price of the stock has experienced an increase of 7.45% indicating a bullish. 

The Stock has doubled twice since 13 Feb 2015 and took an average of 1.6 years to double. 

The stock has not shown seasonality trend in the past. 

Reviewing the returns for the past 5 years for the same week, we see the stock has given negative returns in 3 years in the past. 

Majority of the technical ratios trend towards Bullish side of the spectrum. 

Collectively, xCalData suggests the stock would be in Bullish zone for next 5 days. 

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