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    Buy Indian Oil Corporation, target price Rs 130: Prabhudas Lilladher

    Synopsis

    Indian Oil Corporation, incorporated in the year 1959, is a Large Cap company (having a market cap of Rs 110851.72 Crore) operating in Gas & Petroleum sector.

    Indian Oil Corporation
    IOCL is likely to report operationally better results but without subsidies, reported results will be lower QoQ.
    Prabhudas Lilladher has buy call on Indian Oil Corporation with a target price of Rs 130. The current market price of Indian Oil Corporation is Rs 78.25.

    Indian Oil Corporation, incorporated in the year 1959, is a Large Cap company (having a market cap of Rs 110851.72 Crore) operating in Gas & Petroleum sector.

    Indian Oil Corporation key Products/Revenue Segments include Petroleum Refinery Products, Other Operating Revenue, Scrap, Sale of services, Other Services and Subsidy for the year ending 31-Mar-2022.

    Financials
    For the quarter ended 30-09-2022, the company has reported a Consolidated Total Income of Rs 233800.98 Crore, down -8.67 % from last quarter Total Income of Rs 256004.60 Crore and up 35.42 % from last year same quarter Total Income of Rs 172646.31 Crore. Company has reported net profit after tax of Rs -1156.88 Crore in latest quarter.

    The company’s top management includes Mr.Shrikant Madhav Vaidya, Mr.Krishnan Sadagopan, Mr.Sudipta Kumar Ray, Mr.Prasenjit Biswas, Dr.Dattatreya Rao Sirpurker, Dr.Ashutosh Pant, Mr.Dilip Gogoi Lalung, Mr.Sujoy Choudhury, Ms.Sukla Mistry, Mr.D S Nanaware, Mr.V Satish Kum, Ms.Indrani Kaushal, Mr.Navneet Mohan Kothari, Ms.Lata Usendi, Mr.Sandeep Kumar Gupta, Mr.Ranjan Kumar Mohapatra, Dr.S S V Ramakumar, Mr.G K Satish, Prof. (Dr)Ram Naresh Singh. Company has K C Mehta & Co as its auditors. As on 30-09-2022, the company has a total of 1,412 Crore shares outstanding.

    Investment Rationale
    IOCL is likely to report operationally better results but without subsidies, reported results will be lower QoQ.

    Promoter/FII Holdings
    Promoters held 51.5 per cent stake in the company as of 30-Sep-2022, while FIIs owned 16.59 per cent, DIIs 11.23 per cent.



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    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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