Buy Oil India, target price Rs 255: Emkay Global

Oil India NSE -0.80 percent has a buy call from Emkay Global with a target price of Rs 255. Oil India’s current market price is Rs 191.65.

Oil India Ltd., founded in 1959, is a Mid Cap business in the Gas & Petroleum sector with a market capitalization of Rs 20950.71 crore.

Oil Crude, Gas Natural, Other Operating Revenue, Income From Transportation Services, Renewable Energy System, Condensate, and Income from OFC Fibre Leasing are the primary products/revenue segments for Oil India Ltd. for the year ending 31-Mar-2019.

The company reported a Consolidated Total Income of Rs 6276.58 Crore for the quarter ended June 30, 2021, down -12.75 percent from the previous quarter’s Total Income of Rs 7193.40 Crore but up 233.88 percent from the same quarter last year’s Total Income of Rs 1879.89 Crore. In the most recent quarter, the company produced a net profit after tax of Rs 1036.82 crore.

As of June 30, 2021, promoters owned 56.7 percent of the company, while FIIs held 8.5 percent, DIIs 18.5 percent, and public and others 16.3 percent.