Nomura, India has buy call on Indian Oil Corporation (IOC) with a target price of Rs 130. The current market price of Indian Oil Corporation is Rs 100.6.
Indian Oil Corporation, incorporated in the year 1959, is a large cap company with a market cap of Rs 94,659.37 Crore, operating in gas & petroleum sector.
Indian Oil Corporation's key products/revenue segments include petroleum refinery products, other operating revenue, grants, scrap, subsidy, sale of services and income from sale Of share & securities for the year ending 31-Mar-2020.
Investment rationale
The brokerage raised the target price though the company's refining remains weak, as retail price hikes make marketing outlook better.
Financials
For the quarter ended 31-12-2020, the company has reported a Consolidated Total Income of Rs 148,769.23 Crore, up 79.54 per cent from last quarter Total Income of Rs 82,862.42 Crore and up 19.58 per cent from last year same quarter Total Income of Rs 124,408.06 Crore. Company has reported net profit after tax of Rs 3,826.51 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.
Indian Oil Corporation, incorporated in the year 1959, is a large cap company with a market cap of Rs 94,659.37 Crore, operating in gas & petroleum sector.
Indian Oil Corporation's key products/revenue segments include petroleum refinery products, other operating revenue, grants, scrap, subsidy, sale of services and income from sale Of share & securities for the year ending 31-Mar-2020.
Investment rationale
The brokerage raised the target price though the company's refining remains weak, as retail price hikes make marketing outlook better.
Financials
For the quarter ended 31-12-2020, the company has reported a Consolidated Total Income of Rs 148,769.23 Crore, up 79.54 per cent from last quarter Total Income of Rs 82,862.42 Crore and up 19.58 per cent from last year same quarter Total Income of Rs 124,408.06 Crore. Company has reported net profit after tax of Rs 3,826.51 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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