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    Buy Oil India, target price Rs 260: JM Financial

    Synopsis

    The brokerage reiterate BUY on Oil India (TP INR 260) given strong dividend play and also because CMP is discounting only ~USD 50/bbl net crude realisation.

    BuyAgencies
    Oil India, incorporated in the year 1959, is a Mid Cap company (having a market cap of Rs 23043.61 Crore) operating in Gas & Petroleum sector.
    JM Financial has buy call on Oil India with a target price of Rs 260. The current market price of Oil India is Rs 212.75.

    Oil India, incorporated in the year 1959, is a Mid Cap company (having a market cap of Rs 23043.61 Crore) operating in Gas & Petroleum sector.

    Oil India key Products/Revenue Segments include Oil Crude, Gas Natural, Income From Transportation Services, Other Operating Revenue, Renewable Energy System and Condensate 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 8598.85 Crore, down -26.16 % from last quarter Total Income of Rs 11645.49 Crore and up 15.89 % from last year same quarter Total Income of Rs 7420.13 Crore. Company has reported net profit after tax of Rs 1728.50 Crore in latest quarter.

    The company’s top management includes Dr.Ranjit Rath, Mr.Harish Madhav, Mr.Pankaj Kumar Goswami, Dr.Manas Kumar Sharma, Ms.Pooja Suri, Mr.Raju Revanakar, Mr.Samik Bhattacharya, Mr.Vinod Seshan, Ms.Mamta. Company has V Singhi & Associates as its auditors. As on 30-09-2022, the company has a total of 108 Crore shares outstanding.

    Investment Rationale
    The brokerage reiterate BUY on Oil India (TP INR 260) given strong dividend play and also because CMP is discounting only ~USD 50/bbl net crude realisation.

    Promoter/FII Holdings
    Promoters held 56.66 per cent stake in the company as of 30-Sep-2022, while FIIs owned 12.42 per cent, DIIs 15.37 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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