Add Indian Oil Corporation, target price Rs 98: ICICI Securities

ICICI Securities has given a buy rating to Indian Oil Corporation with a target price of Rs 98. The share price moved down by 0.20 per cent from its previous close of Rs 73.95. The stock’s last traded price is Rs 73.80.

Indian Oil Corporation Ltd., incorporated in the year 1959, is a Large Cap company (having a market cap of Rs 69335.28 Crore) operating in Gas & Petroleum sector.

Financials
For the quarter ended 30-06-2020, the company reported a Consolidated sales of Rs 60528.68 Crore, down 48.71 % from last quarter Sales of Rs 118007.32 Crore and down 53.90 % from last year same quarter Sales of Rs 131296.73 Crore Company has reported net profit after tax of Rs 2129.23 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.