Oil India Ltd Share Price – NSE /  BSE

Crude Oil & Natural Gas, Mid Cap

TotalEnergies and Oil India (OIL) signed a Cooperation Agreement to carry out methane emissions detection and measurement campaigns using TotalEnergies' pioneer AUSEA technology at OIL sites in India.

State-owned enterprise OIL recently joined the Oil and Gas Decarbonization Charter (OGDC), a global industry initiative launched at COP28, co-chaired by TotalEnergies' CEO. The OGDC's ambition is to work towards net-zero operations by 2050, as well as near-zero upstream methane emissions and zero routine flaring by 2030. Moreover, OGDC members are committed to measuring and publicly reporting progress.

In line with the OGDC's principle of sharing good practices, TotalEnergies makes this technology available to other operators among the signatories, as an effective and recognized tool to detect, measure and eventually abate methane emissions on their own assets.

Mounted on a drone, the AUSEA gas analyzer, developed by TotalEnergies and its R&D partners, consists of a dual sensor capable of detecting methane and carbon dioxide emissions, while at the same time identifying their source. This technology marks a step change in methane emissions detection and measurement compared to traditional techniques. By allowing access to hard-to-reach emission points, on all types of industrial facilities, both offshore and onshore, AUSEA is reputed as one of the most accurate technologies in the industry.

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Oil India has been selected as the preferred bidder for the Phop Graphite and Vanadium Block in Arunachal Pradesh. This selection was made by the Ministry of Mines in a recently concluded auction of eight critical mineral blocks, held under Tranche IV of the Auction of Critical and Strategic Mineral Blocks.

The critical minerals, essential for high-tech and green energy applications, will play a crucial role in reducing India's dependence on imports. Aligned with the national priorities of creating the national critical mineral mission, OIL is committed to support India's energy self-sufficiency and advancing the Govt. of India's vision of achieving self-reliance in critical minerals, positioning India as a competitive player in the global mineral economy

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The key equity indices traded with major gains in early afternoon trade, as a clearer picture regarding the US Presidential elections emerges, traders are more confident regarding former President Donald Trump clinching victory. The Nifty traded above the 24,400 level. Oil & gas shares extended gains for the two consecutive trading sessions.

At 12:30 IST, the barometer index, the S&P BSE Sensex advanced 723.07 points or 0.91% to 80,197.46. The Nifty 50 index added 213.40 points or 0.88% to 24,426.70.

In the broader market, the S&P BSE Mid-Cap index rallied 1.55% and the S&P BSE Small-Cap index gained 1.43%.

The market breadth was strong. On the BSE, 2,817 shares rose and 995 shares fell. A total of 115 shares were unchanged.

IPO Update:

The initial public offer (IPO) of Swiggy received bids for 1,11,88,074 shares as against 16,01,09,703 shares on offer, according to stock exchange data at 12:20 IST on Wednesday (06 November 2024). The issue was subscribed 0.07 times.

The issue opened for bidding on Wednesday (06 November 2024) and it will close on Friday (08 November 2024). The price band of the IPO is fixed between Rs 371 to Rs 390 per share. An investor can bid for a minimum of 38 equity shares and in multiples thereof.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, slumped 7.21% to 14.96. The Nifty 28 November 2024 futures were trading at 24,520.20, at a premium of 93.5 points as compared with the spot at 24,426.70.

The Nifty option chain for the 28 November 2024 expiry showed maximum Call OI of 30.4 lakh contracts at the 25,000 strike price. Maximum Put OI of 39.8 lakh contracts were seen at 23,000 strike price.

Buzzing Index:

The Nifty Oil & Gas index rose 1.91% to 11,460.05. The index added 2.70% for the two trading session.

Oil India (up 6.99%), GAIL (India) (up 6.33%), Hindustan Petroleum Corporation (up 4.58%), Bharat Petroleum Corporation (up 3.13%), Mahanagar Gas (up 2.94%), Indian Oil Corporation (up 2.48%), Gujarat Gas (up 2.19%), Adani Total Gas (up 2%), Petronet LNG (up 1.55%) and Castrol India (up 1.45%) advanced.

Oil India rallied 6.99% after the petroleum business company’s net profit zoomed 379.29% to Rs 2,016.20 crore in Q2 FY25 as against Rs 420.66 crore in Q2 FY24. Revenue from operations (excluding excise duty) fell 3.32% to Rs 7,247.03 crore in Q2 FY25 from Rs 7,496.51 crore reported in the same period a year ago.

Meanwhile, the company's board declared an interim dividend of Rs 3 per share for financial year 2024-25. The interim dividend declared shall be paid on or before 4 December 2024.

Stocks in Spotlight :

CCL Products (India) surged 9.87% after the coffee products maker’s consolidated net profit increased 21.51% to Rs 73.95 crore on 21.5% rise in net sales to Rs 73,819.77 crore in Q2 FY24 over Q2 FY23.

Manappuram Finance fell 2%. The company’s consolidated net profit added 2.19% to Rs 570.65 crore on 21.30% increase in total income to Rs 2,637.14 crore in Q2 FY25 over Q2 FY24.

Mankind Pharma rose 0.13%. The company’s consolidated net profit surged 30.43% to Rs 653.47 crore on a 13.6% rise in revenue to Rs 3,076.51 crore in Q2 FY25 as compared to Q2 FY24.

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The domestic equity benchmarks traded with significant gains in mid-morning trade. The Nifty marched above the 24,350 mark. IT shares advanced after declining in the previous trading session.

At 11:30 IST, the barometer index, the S&P BSE Sensex rallied 484 points or 0.60% to 79,960.63. The Nifty 50 index advanced 150.90 points or 0.62% to 24,364.20.

In the broader market, the S&P BSE Mid-Cap index rallied 1.39% and the S&P BSE Small-Cap index gained 1.17%.

The market breadth was strong. On the BSE, 2,734 shares rose and 1,025 shares fell. A total of 141 shares were unchanged.

IPO Update:

The initial public offer (IPO) of Swiggy received bids for 85,66,264 shares as against 16,01,09,703 shares on offer, according to stock exchange data at 11:20 IST on Wednesday (06 November 2024). The issue was subscribed 0.05 times.

The issue opened for bidding on Wednesday (06 November 2024) and it will close on Friday (08 November 2024). The price band of the IPO is fixed between Rs 371 to Rs 390 per share. An investor can bid for a minimum of 38 equity shares and in multiples thereof.

The initial public offer (IPO) of ACME Solar Holdings received bids for 61,16,328 shares as against 5,82,03,223 shares on offer, according to stock exchange data at 11:20 IST on Wednesday (06 November 2024). The issue was subscribed 0.11 times.

The issue opened for bidding on Wednesday (06 November 2024) and it will close on Friday (08 November 2024). The price band of the IPO is fixed between Rs 275 to Rs 289 per share. An investor can bid for a minimum of 51 equity shares and in multiples thereof.

The initial public offer (IPO) of Sagility India received bids for 12,64,06,500 shares as against 38,70,64,594 shares on offer, according to stock exchange data at 11:20 IST on Tuesday (06 November 2024). The issue was subscribed 0.33 times.

The issue opened for bidding on Tuesday (05 November 2024) and it will close on Thursday (07 November 2024). The price band of the IPO is fixed between Rs 28 to Rs 30 per share. An investor can bid for a minimum of 500 equity shares and in multiples thereof.

Buzzing Index:

The Nifty IT index jumped 3.33% to 41,770.55. The index shed 0.04% in the past trading session.

Persistent Systems (up 4.46%), LTIMindtree (up 3.92%), Tata Consultancy Services (up 3.42%), HCL Technologies (up 3.23%), Wipro (up 3.22%), Infosys (up 3.12%), Tech Mahindra (up 3.03%), Coforge (up 2.84%), Mphasis (up 2.31%) and L&T Technology Services (up 2.25%) advanced.

Stocks in Spotlight:

Oil India jumped 6.03% after the petroleum business company’s net profit zoomed 379.29% to Rs 2,016.20 crore in Q2 FY25 as against Rs 420.66 crore in Q2 FY24. Revenue from operations (excluding excise duty) fell 3.32% to Rs 7,247.03 crore in Q2 FY25 from Rs 7,496.51 crore reported in the same period a year ago.

Rites added 0.85%. The company said that the company’s consortium has emerged as the lowest bidder (L-1) for a tender floated by Delhi Metro Rail Corporation (DMRC).

Global Markets:

The Dow Jones index futures soars 550 points, signaling a strong opening for U.S. stocks today, as early vote counts showed Donald Trump leading Kamala Harris.

Asian stocks advanced on Wednesday, mirroring Wall Street’s overnight gains, as markets monitored the results of a highly contested U.S. presidential election. Investors also focused on potential additional stimulus measures from China.

On Tuesday, U.S. stock indexes surged, recovering from recent losses due to gains in technology stocks. Speculation over an upcoming rate cut by the Federal Reserve further boosted risk appetite. The S&P 500 climbed 1.2% to 5,782.76 points, while the NASDAQ Composite increased 1.4% to 18,438.62 points. The Dow Jones Industrial Average rose 1.02% to 42,221.88 points.

Attention this week remains on the Federal Reserve meeting, where the central bank is expected to reduce interest rates by 25 basis points.

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