Buy Indian Oil Corporation, target price Rs 140: Emkay Global

Emkay Global has buy call on Indian Oil Corporation with a target price of Rs 140. The current market price of Indian Oil Corporation is Rs 109. Time period given by analyst is one year 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 101955.34 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 31-03-2022, the company reported a Consolidated Total Income of Rs 175872.72 Crore, up 5.64 % from last quarter Total Income of Rs 166482.22 Crore and up 46.00 % from last year same quarter Total Income of Rs 120460.02 Crore. Company reported net profit after tax of Rs 6952.67 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 51.5 per cent stake in the company as of 31-Mar-2022, while FIIs owned 16.77 per cent, DIIs 2.91 per cent.