Shares of Indian Oil Corporation (IOC) gained as much as 3 percent on Tuesday as D-Street expects inventory gains due to higher crude oil prices to boost fourth quarter earnings.

Share Market Live

NSE

Inventory gains are registered from an appreciation in the value of inventory that a company holds.

The company is due to declare its March quarter earnings later in the day.

IOC's stock has been gaining for the last two days and has risen 1.73 percent in the period. At 12:38 am, shares of IOC were trading 0.4 percent higher at Rs 122.6 on BSE.

Shares of IOC touched an intraday high of Rs 126 on the NSE today. (Source: NSE)

In the past one year, the scrip has gained 20 percent while it shed 18 percent in the past three years.

A poll by CNBC-TV18 expects the company's refining business to perform well due to higher Singapore gross refining margins and product cracks. Refinery throughput is expected to rise over 2 percent on-year and 3 percent on-quarter.

Also Read |

Century Plyboards reports net profit of Rs 88.75 crore in Q4

Marketing margin might witness sharp compression due to no price hike despite rise in crude oil prices. Refining margin are seen at $9.3 per barrel and marketing margin at -1 per litre.

Here is a snapshot of what to expect in Q4 earnings for IOC:

Net profit is seen surging 38 percent quarter-on-quarter (QoQ) to Rs 8,083 crore.

(With inputs from Sonal Bhutra)

Catch up on all LIVE stock market updates here.