Prabhudas Lilladher has recommended accumulate rating on Oil India with a target price of Rs 414 in its research report dated November 29, 2016.
Prabhudas Lilladher's research report on Oil India
We maintain our earnings for FY17/18E. OINL stock has underperformed broader index led by benign crude price outlook. Also, volumes continue to remain uninspiring, with crude oil production volumes down 5.1% CAGR over FY12‐16, while natural gas production volumes were up 1.9% CAGR over the same period. We maintain ‘Accumulate’ with a price target of Rs 414 (Rs 377 earlier) based on 11x FY17E (10x earlier).
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