IOC shares, which are up 105 per cent in the past one year, closed at Rs 168.95 on Tuesday, down 4.44 per cent. Nuvama’s target price suggests a 11 per cent downside from this level.
IOC Q4 Results: The company s revenue from operations fell 3% to Rs 2.19 lakh crore for the fourth quarter, compared with Rs 2.26 lakh crore in the previous year s quarter.
Shares of HPCL climbed 5.35 per cent to hit a high of Rs 483.40 on BSE. BPCL shares climbed 3.87 per cent to a high of Rs 608.25. IOC also gained 3.22 per cent to hit a high of Rs 174.20.
OMC target prices: Emkay Global has a target of Rs 600 for BPCL, Rs 500 for HPCL and Rs 160 for IOC. It has 'Buy' ratings on BPCL and HPCL and 'Add' rating on IOC.
The other stock which Jani picked was Metropolis Healthcare Ltd. "For Metropolis, expected target would be Rs 1,740. Keep stop loss placed at Rs 1,689," he mentioned.