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Nomura, India has buy call on Indian Oil Corporation (IOC) with a target price of Rs 130. The current market price of Indian Oil Corporation is Rs 100.6.
Indian Oil Corporation, incorporated in the year 1959, is a large cap company with a market cap of Rs 94,659.37 Crore, operating in gas & petroleum sector.
Indian Oil Corporation s key products/revenue segments include petroleum refinery products, other operating revenue, grants, scrap, subsidy, sale of services and income from sale Of share & securities for the year ending 31-Mar-2020.
Investment rationale
The brokerage raised the target price though the company s refining remains weak, as retail price hikes make marketing outlook better.
Indian Oil Corporation Ltd. with a target price of Rs 105. The current market price of Indian Oil Corporation is Rs 91.05.
Indian Oil Corporation Ltd., incorporated in the year 1959, is a Large Cap company (having a market cap of Rs 85715.92 Crore) operating in Gas & Petroleum sector.
Financials For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 81704.43 Crore, up 34.98 % from last quarter Sales of Rs 60528.68 Crore and down -26.48 % from last year same quarter Sales of Rs 111128.70 Crore Company reported net profit after tax of Rs 6032.38 Crore in latest quarter.
Promoter/FII Holdings
Promoters held 51.49 per cent stake in the company as of March 31, 2020, while FIIs held 7.19 per cent, DIIs 13.52 per cent and public and others 27.80 per cent.