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Oil India Limited ( (IN:OIL) ) has issued an announcement.
Oil India Limited has clarified to the stock exchanges that it has no undisclosed information or corporate developments that would explain the recent significant increase in trading volume of its shares. The company attributed the market movement in its scrip partly to external factors, noting that international crude oil prices have risen from about USD 60 to USD 68 per barrel over the past three weeks, an increase of more than 13%, which may be affecting investor sentiment and the price and volume of its stock.
More about Oil India Limited
Oil India Limited is a Maharatna central public sector enterprise under the Government of India, engaged primarily in the exploration, production and transportation of crude oil and natural gas. Listed on Indian stock exchanges, the company’s performance and share price are closely tied to global crude oil market dynamics and geopolitical factors that influence commodity prices.
Average Trading Volume: 176,087
Technical Sentiment Signal: Strong Buy
Current Market Cap: 709.6B INR
Learn more about OIL stock on TipRanks’ Stock Analysis page.