Buy Oil India, target price Rs 256: IIFL

IIFL has buy call on Oil India with a target price of Rs 256. The current market price of Oil India Ltd. is Rs 244.6.
Time period given by analyst is Intra Day when Oil India Ltd. price can reach defined target.

Oil India Ltd., incorporated in the year 1959, is a Mid Cap company (having a market cap of Rs 26513.71 Crore) operating in Gas & Petroleum sector.


Oil India Ltd. key Products/Revenue Segments include Oil Crude, Gas Natural, Other Operating Revenue, Income From Transportation Services, Renewable Energy System, Condensate and Income from OFC Fibre Leasing for the year ending 31-Mar-2019.


Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 8162.56 Crore, up 10.01 % from last quarter Total Income of Rs 7420.13 Crore and up 263.39 % from last year same quarter Total Income of Rs 2246.20 Crore. Company reported net profit after tax of Rs 1307.61 Crore in latest quarter.

Investment Rationale
The stock has given a flag pattern breakout

Promoter/FII Holdings
Promoters held 56.66 per cent stake in the company as of 31-Dec-2021, while FIIs owned 10.11 per cent, DIIs 17.91 per cent.