78.05 -0.05 (-0.06%)
NSE Oct 28, 2020 15:59 PM
Volume: 11.4M

Indian Oil Corporation Ltd.    
05 Aug 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 trimmed TP of Rs146. Our buy call is based on: (i) improved outlook for retail margins under sub US$4050/bbbl (ii) refining and petchem margins are at trough levels and could revive over the next 1-2 years based on likely closure of capacities and iii) compelling valuations post the sharp 34% fall in the stock price in the last one year that has priced in worries over policy/volatility in margins and likely risk of increasing competition from private retailers/alternative fuels. IOC's 1QFY21 adjusted PAT at...
Indian Oil Corporati.. has an average target of 125.33 from 11 brokers.
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