IOC share price: Buy Indian Oil Corporation, target price Rs 155: ICICI Direct

ICICI Direct has purchased Indian Oil Corporation with a target price of Rs 155. The current market price of Indian Oil Corporation is Rs 133.8. The period given by the analyst is 3 months when the price of Indian Oil Corporation Ltd. can achieve the set goal.

Indian Oil Corporation Ltd., incorporated in 1959, is a large capitalization company (having a market capitalization of Rs 125584.88 Crore) operating in the oil and gas sector.

Major product/revenue segments of Indian Oil Corporation Ltd. include petroleum refinery products, other operating revenue, other services, sale of services, scrap metal and grants for the year ending March 31, 2021.

finance

For the quarter ended 31-12-2021, the company reported consolidated total revenue of Rs 166,482.22 Crore, down -3.57% from last quarter, total revenue of Rs 172,646.31 Crore and up 61.75% compared to the same quarter last year. Total revenue of Rs 102928.47 Crore. The company reported a net profit after tax of Rs 5931.06 Crore last quarter.

Investment rationale
The brokerage believes stocks like IOC will resume their new uptrend after hovering in a small range for the past few months. He thinks the recent build seen in the stock will be followed by new longs in the coming sessions.


Promoter/Fii Holdings
The promoters held 51.5% of the company’s capital as of March 31, 2022, while the FIIs held 16.77% and the DIIs 2.91%.

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