Shares of Oil India ​Oil India struck one-month highs

Oil India Ltd., a government-owned energy explorer, struck one-month highs after its quarterly sales inched up even though profit slipped.

Oil India said its first quarter net profit fell 9 percent to 775.4 crore rupees compared with 852 crore rupees in the same quarter a year ago. Sales during April-June rose 9 percent to 2,882 crores versus 2,649 crores.

Oil India fell 1.85 rupees, or 0.4 percent, to 450 rupees, its highest since July 2nd on the National Stock Exchange where 4.5 lakh shares shares changed hands compared with a 5-day average of 2.6 lakh shares.

Oil India's market capitalisation has dipped 21 percent in one year to 27,200 crore rupees as global crude oil prices fell.

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