Accumulate Oil India Ltd., target Rs 377.0 : Prabhudas Lilladher

Prabhudas Lilladher has Accumulate call on Oil India Ltd. with a target price of Rs 377.0. The current market price of Oil India Ltd. is 397.35. Time period given by analyst is year, when Oil India Ltd. price can reach defined target. Prabhudas Lilladher has increased its earnings by 4% for FY17 and 11% for FY18 to factor in lower costs. It said the company is the only stock that has underperformed the broader index. Peer ONGC is trading at 12.58x FY17E earnings, as per Bloomberg estimates.