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Buy Indian Oil Corporation; target of Rs 120: ICICI Direct

ICICI Direct is bullish on Indian Oil Corporation has recommended buy rating on the stock with a target price of Rs 120 in its research report dated August 05, 2021.

August 10, 2021 / 11:41 AM IST


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ICICI Direct's research report on Indian Oil Corporation

Indian Oil Corporation (IOC) is India’s largest refining & marketing company with an installed refining capacity of ~70 MMT.IOC’s marketing sales share among public sector OMCs is ~49% Petrol and diesel together constitute ~52% of total marketing sales for IOC


We upgrade our rating from HOLD to BUY on the stock. We value IOC at Rs 120 i.e. average of P/E multiple: Rs 115 /share and P/BV multiple: Rs 125/share

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

Broker Research
first published: Aug 10, 2021 11:41 am

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