Buy Indian Oil Corporation, target price Rs 127: Kotak Securities

Kotak Securities has buy call on Indian Oil Corporation Ltd. with a target price of Rs 127. The current market price of Indian Oil Corporation is Rs 125.05. Time period given by analyst is Intra Day when Indian Oil Corporation Ltd. price can reach defined target.

Indian Oil Corporation Ltd., incorporated in the year 1959, is a Large Cap company (having a market cap of Rs 115511.73 Crore) operating in Gas & Petroleum sector.

Indian Oil Corporation Ltd. key Products/Revenue Segments include Petroleum Refinery Products, Other Operating Revenue, Other Services, Sale of services, Scrap and Subsidy for the year ending 31-Mar-2021.



Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 172646.31 Crore, up 9.95 % from last quarter Total Income of Rs 157018.41 Crore and up 108.35 % from last year same quarter Total Income of Rs 82862.42 Crore. Company reported net profit after tax of Rs 5813.41 Crore in latest quarter.

Investment Rationale
Rising channel on the daily chart, the structure indicates bullish momentum to sustain.

Promoter/FII Holdings
Promoters held 51.5 per cent stake in the company as of 31-Dec-2021, while FIIs owned 16.43 per cent, DIIs 4.02 per cent.