Downward revision in gas prices negative for upstream gas players, but positive for downstream gas marketing companies, fertilisers, tiles and power sectors
Sharekhan recommended Hold rating on Oil India with a target price of Rs 106 in its research report dated August 24, 2020.
HDFC Securities recommended reduce rating on Oil India with a target price of Rs 99 in its research report dated August 24, 2020.
Given the near-term uncertainty, we would recommend only long-term investment in these two stocks, with a preference for ONGC over Oil India
While ONGC was the sole bidder for six blocks, OIL was the lone bidder in all the four blocks it bid for, DGH said.
Motilal Oswal is bullish on Oil India recommended buy rating on the stock with a target price of Rs 110 in its research report dated June 29, 2020.
Sharekhan is bullish on Oil India has recommended buy rating on the stock with a target price of Rs 115 in its research report dated June 29, 2020.
Emkay Global Financial recommended hold rating on OIL India with a target price of Rs 95 in its research report dated June 29, 2020.
The connecting roads to the Baghjan well, which has been spewing gas uncontrollably for nearly 30 days, have been submerged in flood waters.
Natural gas mixed with condensate started flowing uncontrollably from one of the wells of the company-operated Baghjan fields in Tinsukia district of Assam on May 27, 2020, leading to a blowout. The well caught fire on June 8, killing two fire fighters and injuring one.
Oil India Ltd's gas well in its Baghjan oilfield in Tinsukia district of Assam had a blowout or uncontrolled gas emission on May 27. The well caught fire on June 9 as the company brought in experts from the Singapore-based firm Alert Disaster Control to contain the blowout.
National Disaster Response Force (NDRF) is undertaking a rescue operation at the site of an oil well that exploded and caught fire at Baghjan
"Gave details of Baghjan fire tragedy to PM Shri @narendramodi ji over phone. Also briefed him about emergency measures taken by @PetroleumMin, @OilIndiaLimited & state machinery. He assured of all possible help to resolve the situation & provide relief to victims," Sonowal tweeted.
A massive fire on June 9 engulfed the damaged Oil India's Baghjan oil well which has been spewing gas uncontrollably since May 27
Other non-telecom firms, which have also been slapped with similar demands, too are likely to move the Telecom Disputes Settlement and Appellate Tribunal (TDSAT).
Sharekhan is bullish on Oil India has recommended buy rating on the stock with a target price of Rs 165 in its research report dated February 11, 2020.
State-owned Oil India reported a 35.2 percent sequential fall in profit at Rs 406.4 crore due to higher tax cost and lower other income.
After an initial blip, all the stocks of non-telecom companies on whom the demands have been raised have recovered from their losses
Following a Supreme Court ruling that non-telecom revenues should be included for considering payments of government dues, the Department of Telecommunications (DoT) has asked Oil India to pay Rs 48,000 crore in principal dues together with interest and penalty for using optic fibre network for internal communication. The dues sought are double the net worth of Oil India.
Stocks that are likely to get impacted the most include names like Maruti Suzuki India, Bajaj Auto, HPCL, IOC, and Asian Paints, etc. may see a negative impact in the near term.
HDFC Securities is bullish on Oil India has recommended buy rating on the stock with a target price of Rs 230 in its research report dated November 12, 2019.
Net Sales are expected to decrease by 11.9 percent Y-o-Y (down 2.2 percent Q-o-Q) to Rs. 3,299 crore, according to Sharekhan.