Shares of Oil India, a state-owned oil exploration company, saw a decline of 3.43% during intra-day trading on Thursday, falling to a low of ₹464.90 on the Bombay Stock Exchange (BSE). This drop followed the announcement by the NSE that Oil India, along with 44 other companies, would be included in the F&O list.
The stocks will begin trading in the F&O segment starting November 29, 2024. For investors tracking the stock market, this development has significant implications for share market investment strategies.
Interim dividend announcement and stock performance
In addition to the F&O news, Oil India also declared an interim dividend of ₹3 per share for the financial year 2024-25. Shares of Oil India began trading ex-dividend on November 14, 2024, with the record date for determining shareholder eligibility set as the same day.
The interim dividend is expected to be paid on or before December 4, 2024. Despite the dividend announcement, the stock’s performance has been under pressure as investors are factoring in both the changes related to F&O inclusion and broader market trends.
With a market capitalisation of ₹77,825.05 crore as of November 14, Oil India remains a significant player in India’s oil and gas sector. The company operates across more than 62,000 sq. km of land and offshore areas, contributing substantially to the nation’s crude oil production.
Key takeaways
Investors keeping an eye on Oil India’s future performance should consider these factors when making share market investment decisions.
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