Buy Oil India, target price Rs 115: Motilal Oswal

Motilal Oswal has given buy rating to Oil India with a target price of Rs 115. The share price moved up by 1.53 per cent from its previous close of Rs 84.70. The stock’s last traded price is Rs 86.

Oil India Ltd., incorporated in the year 1959, is a Mid Cap company (having a market cap of Rs 9266.24 Crore) operating in Gas & Petroleum sector.

Financials
For the quarter ended 30-06-2020, the company reported a Consolidated sales of Rs 1749.71 Crore, down 32.89 % from last quarter Sales of Rs 2607.38 Crore and down 48.25 % from last year same quarter Sales of Rs 3380.87 Crore. The Company reported net profit after tax of Rs -343.25 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 56.66 per cent stake in the company as of March 31, 2020, while FIIs held 6.58 per cent, DIIs 19.23 per cent and public & others 17.53 per cent.