Indian Oil Q2 profit jumps 184% to Rs 21,630 crore

Indian Oil Corporation posted Q2 standalone profit of Rs 21,630 crore, while the chart still shows a bearish trend between Rs 124.90 and Rs 132. Indian Oil Corporation [

] reported standalone profit of Rs 21,630 crore for the September 2026 quarter, up 184.2% from Rs 7,610.5 crore a year ago. The results were announced on 30 October 2026. Revenue, excluding excise duty, rose 40% to Rs 2.5 lakh crore from Rs 1.78 lakh crore. Profit grew faster than sales, which shows a sharp improvement in margins. The company had posted a standalone loss in the previous quarter, which makes this a clear recovery. The chart looks different. The stock ended the last session at Rs 130.15. It has been making lower highs and lower lows since the March peak near Rs 188, and the trend remains bearish. RSI is near 47, which is neutral and shows no strong momentum. What next: Rs 132 is the immediate resistance. A close above it may ease selling pressure. Rs 124.90 is the key support, and a close below it may extend the downtrend. Conclusion: Strong earnings have not yet changed the price trend. The market may act on whether the stock can move above Rs 132 with higher volume. Disclaimer: I, Akhilesh Jat (SEBI RA Reg. No. INH000016649), do not hold any position in the stock discussed. This content is informational, not a recommendation. Investments in securities are subject to market risks. Read all related documents carefully before investing.