Oil India Bonus Record Date 1:2 Bonus and Other Details

Oil India

The government-owned Oil India Limited is involved in the exploration, development, and production of natural gas and crude oil. It is a major participant in the oil and gas sector, and the Ministry of Petroleum and Natural Gas is in charge of its operations.

It was established in 1959 and has offices around the country, with its headquarters being in Duliajan, Assam. The voyage of Oil India started in 1889 when crude oil was discovered in Assam. Since then, it has expanded and is currently active in over nine locations worldwide.

It just bought the majority of Numaligarh Refinery Limited's shares. Acknowledged for its accomplishments, Oil India has attained the esteemed position of Maharatna Corporation within the Indian public sector.

Oil India Bonus Record Date

An amazing announcement was made recently for the shareholders of Oil India, a firm that extracts and sells gas and oil. The board of Oil India decided to reward its shareholders following a profitable fourth quarter of the company's fiscal year 2023–2024, which saw a notable increase in profit. They authorized the distribution of bonus shares at a 1:2 ratio, which entitles shareholders to one extra share for free for every two shares they now own.

Oil India’s board has established a record date in order to guarantee equity and openness in the allocation of these incentive shares. The determination of which stockholders are qualified to receive bonus shares is made on Tuesday, July 2, 2024, and is a significant day. As per the predetermined ratio, bonus shares will be awarded to shareholders who own stocks of Oil India on or before this date.

This news is made at a time when Oil India's performance is still strong due to rising crude oil prices, which have improved the company's financial results. Shareholders have even more reason to be happy about their investment in Oil India thanks to the bonus shares and the increase in stock prices.

Indian Oil Share Price

Indian Oil Corporation's share price is Rs 166.95 as of right now, up 0.03% from its previous closing price. The price range of the stock has been between Rs 164.25 and Rs 168.25.

It has seen a significant growth of 91.51% over the last year, with increases of 28.53% this year and 4.74% during the last five days. With a market valuation of ₹2,35,683.50 crore, Indian Oil Corporation has a P/E ratio of 5.53, below the sector average of 10.57. Analysts say the stock has a strong bullish trend and a balanced risk profile.