Buy Indian Oil Corporation, target price Rs 148: Motilal Oswal

Motilal Oswal has buy call on Indian Oil Corporation with a target price of Rs 148. The current market price of Indian Oil Corporation Ltd. is Rs 91.35.

Indian Oil Corporation Ltd., incorporated in the year 1959, is a Large Cap company (having a market cap of Rs 85668.85 Crore) operating in Gas & Petroleum sector.

Financials
For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 81704.43 Crore, up 34.98 % from last quarter Sales of Rs 60528.68 Crore and down -26.48 % from last year same quarter Sales of Rs 111128.70 Crore. Company reported net profit after tax of Rs 6032.38 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 51.49 per cent stake in the company as of March 31, 2020, while FIIs held 7.19 per cent, DIIs 13.52 per cent and public and others 27.80 per cent.