Oil India stock gains over 1 pc after quarterly results

Shares of Oil India Ltd on Friday gained over 1 per cent after the nation's second-largest state explorer reported strong June quarter results.

In early trade, shares of OIL opened on a strong note at Rs 190 on BSE, then gained more ground to touch Rs 194.65, registering a jump of 3.56 per cent over its previous close.

The stock finally settled at Rs 190.40 apiece, higher by 1.30 per cent, on BSE.

On the NSE, it rose 1.17 per cent to settle at Rs 190.15 apiece.

The 30-share BSE Sensex benchmark climbed 130.18 points or 0.22 per cent at 59,462.78 on Friday.

Oil India has reported a tripling of its net profit in the June quarter on record oil and gas price realisation.

Its net profit was Rs 1,555.46 crore, or Rs 14.34 per share, in April-June period compared to Rs 507.94 crore, or Rs 4.68 a share, in the same period a year back, the company said in a statement on Thursday.

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