Oil India Ltd Shares Surge 200%, Announce 1:2 Bonus Allotment and Trade Ex-Bonus

Oil India Ltd shares have risen 95% YTD and 200% over the past year. Recently, they provided an update on 1:2 bonus share allotment, trading ex-bonus on July 2, 2024.
Oil India Ltd Shares Surge 200%, Announce 12 Bonus Allotment and Trade Ex-Bonus

Oil India Ltd shares have gained 95% year-to-date and 200% over the past year. Today, Oil India Ltd provided an update on bonus share allotment. The shares traded ex-bonus on July 2, 2024, in a 1:2 ratio. The current market price on BSE is Rs 492.80.

Oil India has a market capitalization of Rs 80,159.23 crore, a PE ratio of 9.66, and an ROE of 12.58. On May 20, the PSU declared a 1:2 bonus share and approved a final dividend of Rs 3.75 per share for FY 2023-24. The dividend record date is yet to be announced.

Oil India shares have shown a remarkable rally, with over 24% gains in the last month, 93% in the last six months, 266% over the last two years, and a 336% return in the last three years. The 52-week high on BSE is Rs 510.95, and the 52-week low is Rs 164.35.

Life Insurance Corporation of India (LIC) holds an 8.04% stake in Oil India, amounting to 87,156,697 shares. Oil India Ltd’s strong performance and strategic moves, including bonus shares and dividends, have contributed to its impressive market performance and positive outlook.

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