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Last Updated : Jun 10, 2019 03:30 PM IST | Source: Moneycontrol.com

Buy Oil India; target of Rs 230: Sharekhan

Sharekhan is bullish on Oil India has recommended buy rating on the stock with a target price of Rs 230 in its research report dated May 28, 2019.

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Sharekhan's research report on Oil India


Operating profit lagged estimates due to higher-than-expected other operating expenses. Adjusted PAT was in line with estimates, at Rs. 818 crore. We do not expect upstream oil PSUs to bear fuel subsidy with a stable central government and adequate fuel subsidy provision for FY20E; we thus expect net oil realisations at $65/bbl during FY20E-FY21E.


Outlook


We maintain our Buy rating on Oil India with an unchanged SoTP based PT of Rs. 230 as valuations are discounting worst-case net oil realisation of $48/bbl; stock also offers healthy dividend yield of 5-6%.


For all recommendations report, click here


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First Published on Jun 10, 2019 03:30 pm
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