Buy Indian Oil Corporation, target price Rs 142: Motilal Oswal

Buy Indian Oil Corporation, target price Rs 142: Motilal Oswal
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Synopsis

Indian Oil Corporation Ltd., incorporated in the year 1959, is a Large Cap company (having a market cap of Rs 91599.77 Crore) operating in Gas & Petroleum sector.

Promoters held 51.5 per cent stake in the company as of Dec 30, 2020, while FIIs held 5.8 per cent, DIIs 13.6 per cent and public and others 29.1 per cent

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Motilal Oswal has buy call on Indian Oil Corporation with a target price of Rs 142. The current market price of is Rs 97.8.

Indian Oil Corporation Ltd., incorporated in the year 1959, is a Large Cap company (having a market cap of Rs 91599.77 Crore) operating in Gas & Petroleum sector.

Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 148769.23 Crore, up 79.54 % from last quarter Total Income of Rs 82862.42 Crore and up 19.58 % from last year same quarter Total Income of Rs 124408.06 Crore. Company reported net profit after tax of Rs 3826.51 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 51.5 per cent stake in the company as of Dec 30, 2020, while FIIs held 5.8 per cent, DIIs 13.7 per cent and public and others 29 per cent.

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