Oil India is one of the top 500 performing stocks identified by Dynamic Levels for this quarter amongst the 1700 stocks listed on NSE. Oil India possesses strong fundamentals. By strong fundamentals it is meant it has not incurred any losses in the last two quarters, debt equity is less than 2 and pledge has not exceeded 25%. Hence, according to Dynamic levels all stocks with strong fundamentals are safe for investment.
State-owned Oil India 's standalone net profit slipped 33.47 percent to Rs 494.41 crore in the June 30, 2016 quarter end, compared to the corresponding period last year. The oil PSU had noted a net profit of Rs 743.21 crore for the quarter ended June 30, 2015. Total income dipped to Rs 2,460.85 crore for the quarter ended June 30, 2016, from Rs 3,164.12 crore in the quarter ended June 30, 2015, according to Oil India. The company’s revenue from crude oil declined to Rs 1,605.35 crore in the first quarter of this financial year from Rs 2,195.36 crore in the year ago period. In the same manner, revenue from natural gas reduced to Rs 451.11 crore in April-June compared to Rs 541.52 crore last year. The income from LPG also came down amounting to Rs 22.21 crore in this quarter from Rs 32.52 crore a year ago. Oil India is a fully integrated upstream petroleum company.
As seen on 6th September, Oil India share price was quoting at Rs. 387.30, and settled above 0.39% at Rs. 387.55. The stock opened at Rs. 391.80, touching the day’s high and low at Rs. 392 and Rs. 386.10 respectively. After the trading session is going to commence on 7th September, we will get to see the impact of its Q1 performance on the stock.
Oil India share price has touched its 52 week value at Rs. 467.00 on 9th Oct ’15 while the 52 week low value is seen at Rs. 300.35 on 1st March ‘16.
In order to get detailed information on the stock’s closest support and resistance, refer to Oil India share price forecast.
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