Oil India rose 3.87% to Rs 443.80 at 9:55 IST on BSE after the company said its board will consider bonus issue of shares on 28 November 2016.
The announcement was made after market hours yesterday, 23 November 2016.Meanwhile, the BSE Sensex was down 96.19 points, or 0.37%, to 25,955.62.
On BSE, so far 80,000 shares were traded in the counter, compared with average daily volume of 70,199 shares in the past one quarter. The stock hit a high of Rs 446 so far during the day, which is also 52-week high for the counter. The stock hit a low of Rs 437.05 so far during the day. The stock hit a record low of Rs 300.50 on 1 March 2016. The stock had outperformed the market over the past 30 days till 23 November 2016, rising 3.14% compared with the 7.26% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 11.35% as against Sensex's 6.41% decline.
The large-cap company has equity capital of Rs 601.14 crore. Face value per share is Rs 10.
Oil India's net profit fell 33.5% to Rs 494.41 crore on 22.4% decline in net sales to Rs 2133.31 crore in Q1 June 2016 over Q1 June 2015. The company will announce Q2 results on 28 November 2016.
The Government of India held 67.64% stake in Oil India as per the shareholding pattern as on 30 June 2016.
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