Oil India announced its Q2 FY24 results, reporting an impressive 223.1 per cent year-on-year increase in profit, despite a dip in revenue.

The MoU, signed on February 22, 2024, outlines a collaborative effort to explore opportunities in the green hydrogen domain

The shares of the company saw a spurt in volume by more than 1.16  times on BSE. 

 At 11 am on Wednesday, the headline equity indices, i.e. Sensex and Nifty 50 are trading marginally lower as the US market continues to bleed for the third consecutive day.  

On Monday, the benchmark indices recouped the morning losses in the afternoon session with Sensex closing 326.84 points or 0.62 per cent higher at 53,234.77 level whereas Nifty being 83.40 points or 0.53 per cent up at 15,835.40 level.  

The equity benchmark indices closed higher in a volatile session on Monday. The hopeful trends in the global markets motivated the domestic market to trade higher, in which, the large-cap stocks rose the most while the mid-cap and small-cap stocks in broader markets continued to trade under pressure.  

Nifty 50 falls in response to global cues, while this PSU stock rises roughly 4 per cent after demonstrating an ascending triangle breakout. Continue reading to learn more.

On Monday, making a gap down opening and recovering in the afternoon session, the benchmark indices were not able to sustain the gains due to global cues. Sensex ended 93.91 points or 0.17 per cent lower at 55,675.32, and the Nifty shed 18.50 points or 0.11 per cent at 16,565.80. Tata Steel, IndusInd Bank and Mahindra & Mahindra were the Top Gainers while Shree Cements, Asian Paints and BPCL were the top losers.

Going ahead, the stock selection is going to be of paramount importance and hence, we have chalked down a list of stocks that are likely to outperform. Here is the list of stocks:  

Interestingly, in the above list couple of stocks are from the oil exploration sector and you must have heard of the proverb, ‘birds of a feather flock together’. This clearly indicates that this sector is likely to be in the limelight in the coming days.