Buy Indian Oil Corporation, target Rs 450.0 : Reliance Securities

Reliance Securities has a buy call on Indian Oil Corporation Ltd. with a target price of Rs 450.0 .The current market price of Indian Oil Corporation Ltd. is 434.75. Time period given by the brokerage is Intra Day when Indian Oil Corporation Ltd. price can reach defined target. Reliance Securities recommended to keep stoploss at Rs 430.0 .

Indian Oil Corporation Ltd., incorporated in the year 1959, is a largecap company with a market cap of ₹ 215165.15 crore operating in Petroleum sector.

Indian Oil Corporation Ltd. key Products/Revenue Segments include Petroleum Products which contributed ₹ 378828.73 Cr to Sales Value (91.36 % of Total Sales), Petrochemical Products which contributed ₹ 19374.28 Cr to Sales Value (4.67 % of Total Sales), Others which contributed ₹ 8171.23 Cr to Sales Value (1.97 % of Total Sales), Grants which contributed ₹ 6885.26 Cr to Sales Value (1.66 % of Total Sales), Other Operating Revenue which contributed ₹ 1009.47 Cr to Sales Value (0.24 % of Total Sales), Licence which contributed ₹ 164.98 Cr to Sales Value (0.03 % of Total Sales), Scrap which contributed ₹ 106.63 Cr to Sales Value (0.02 % of Total Sales), Subsidy which contributed ₹ 49.37 Cr to Sales Value (0.01 % of Total Sales), Sale of services which contributed ₹ 21.24 Cr to Sales Value (0.00 % of Total Sales), Income from Finance Leases which contributed ₹ .60 Cr to Sales Value (0.00 % of Total Sales)for the year ending 31-Mar-2016.

For the quarter ended 31-12-2016, the company has reported a Standalone sales of ₹ 92632.89 Cr., up 15.73% from last quarter Sales of ₹ 80043.54 Cr. and up 12.43% from last year same quarter Sales of ₹ 82389.88 Cr. Company has reported net profit after tax of ₹ 3994.91 Cr. in latest quarter. The company’s CEO is Mr.B Ashok. It's Board of Directors include Mr.Raju Ranganathan, Mr.A K Sharma, Mr.A P Sawhney, Mr.Anish Aggarwal, Mr.Ashutosh Jindal, Mr.B Ashok, Mr.B S Canth, Mr.D K Sharma, Mr.Dipankar Ray, Mr.G K Satish, Mr.Gurmeet Singh, Mr.P K Singh, Mr.Parindu Bhagat, Mr.R K Mittal, Mr.R Suresh, Mr.Raju Ranganathan, Mr.S K Dhargupta, Mr.S Senthil Kumar, Mr.Sanjay Kapoor, Mr.Sanjiv Singh, Mr.Subimal Mondal, Mr.Subroto Bagchi, Mr.Sunil Gupta, Mr.Sunil Mathur, Mr.V Mohan, Mr.Verghese Cherian, Mr.Y K Gupta, Ms.C K Deshmukh. Company has its registered office at Indian Oil Bhavan,, G-9, Ali Yavar Jung Marg,, Bandra (East), Mumbai, 400051, Maharashtra. Company has V Sankar Aiyar & Co. as its auditors. As on 31-03-2017, the company has a total of 4,855,904,964 shares outstanding.