Indian Oil Corporation reports 29% rise in Q3 net profit
Indian Oil Corporation has reported results for third quarter ended December 31, 2016.
The company has reported 29.04% rise in its net profit at Rs 3994.91 crore for the quarter under review as compared to Rs 3095.75 crore for the same quarter in the previous year. Total income of the company increased by 19.16% at Rs 116437.83 crore for the quarter under review as compared Rs 97717.44 crore for the corresponding quarter previous year.
IOC is the largest enterprise in the country and the foremost ranked Fortune Global 500 Company in India and has presence in the complete hydrocarbon value chain from downstream refining & marketing, pipeline transportation, Petrochemicals, E&P and Gas Marketing.
Technical Levels for IOC
Support at 340 and Resistance at 370--380
Break and sustain above 380 will see sharp upside rally in it else could touch its support level of 340
Looks weak on close below 340.
More will update soon!!
