Buy Indian Oil Corporation, target price Rs 101.5: ICICI Direct
Indian Oil Corporation Ltd., incorporated in the year 1959, is a Large Cap company (having a market cap of Rs 92917.75 Crore) operating in Gas & Petroleum sector.
By ETMarkets.com | Updated:
Promoters held 51.5 per cent stake in the company as of Dec 30, 2020, while FIIs held 5.8 per cent, DIIs 13.7 per cent and public and others 29 per cent.
ICICI Direct has buy call on Indian Oil Corporation with a target price of Rs 101.5. The current market price of Indian Oil Corporation Ltd. is Rs 98.6.
Indian Oil Corporation Ltd., incorporated in the year 1959, is a Large Cap company (having a market cap of Rs 92917.75 Crore) operating in Gas & Petroleum sector.
Financials For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 148769.23 Crore, up 79.54 % from last quarter Total Income of Rs 82862.42 Crore and up 19.58 % from last year same quarter Total Income of Rs 124408.06 Crore. Company reported net profit after tax of Rs 3826.51 Crore in latest quarter.
Investment Rationale Price rebound after taking support and basing formation at 50 day EMA Promoter/FII Holdings Promoters held 51.5 per cent stake in the company as of Dec 30, 2020, while FIIs held 5.8 per cent, DIIs 13.7 per cent and public and others 29 per cent.
