The scrip pared all its gains and finally ended at Rs 609, up 7%. The counter witnessed trades of 1.2 million shares on the BSE.
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Updated at 1427 Hrs:
The shares of Indian Oil Company today opened at Rs 575. It touched a low of Rs 573 in the morning session and zoomed to a high of Rs 662 on the reports of free pricing of petroleum products. The scrip is now trading at Rs 642, up 13%. Around 1 million shares have been traded on the BSE so far.
The company posted a 67% dip in net profit of Rs 2,599.40 crore for the year ended March 31, 2009 where as the same was at Rs 7,912.74 crore for the year ended March 31, 2008.
Total income soared 25% to Rs 2,90,946.19 crore for the period under review where as the same was at Rs 232,558.62 crore.