76.80 2.60 (3.50%)
NSE Oct 19, 2020 15:31 PM
Volume: 23.2M

Indian Oil Corporation Ltd.    
26 Jun 2020
Nirmal Bang Institutional
NBIE Values your patronage- Vote for The Team in the Asia Money poll 2020. Click Here We maintain Buy on Indian Oil Corp (IOC) based on our raised TP of Rs148. We are raising earnings 130% in FY21E, respectively after the 4QFY20 results con-call based on new assumption for FY21E (a) low risk of inventory loss in FY21/ possible gains in FY22, and b) improved petchem assumptions that offset the cut in refining and marketing volumes; and reduced retail margin Rs3.5/lit vs. Rs5.25/lit. Our buy call is based on: (i) improved outlook for retail margins under...
Number of FIIs/FPIs holding stock fell by 24 to 531 in Sep 2020 qtr.
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