Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    

| More

Oil India Ltd - ACCUMULATE - TP Rs.381 - Result Update - Kotak

Posted On: 2017-11-15 19:15:49

- Oil India's PAT for Q2FY18 is higher than our estimates. The company has reported meaningful increase in PAT to Rs6.5 bn (43% qoq and 11% yoy) mainly on account of higher crude oil realization, higher sales volume, lower other expenses and higher other income. We expect the stock to remain in focus due to the following triggers - Rising crude oil prices, potential increase in domestic gas price from 1st April 2018, and news flow of merger with IOC.

- We have factored in nil subsidies for FY2019, at our Dated Brent crude price assumption of US$59/bbl for FY19. We expect OINL to report an EPS of Rs. 34.7 FY18E (earlier Rs.33.1) and Rs. 38.6 in FY19E (earlier Rs.35.6) reflecting higher realization. On the basis of our estimates, we believe the stock is now attractively valued at 11.4x P/E and 6.2x P/cash earnings on the basis of FY19E. Due to recent run up in the share price, we now recommend Accumulate (earlier BUY) on OINL with a revised price target of Rs. 381 (earlier Rs.317). Improvement in crude oil/gas prices, production ramp-up and weak rupee due to geo-political risk will be key positives for the company which will improve the earnings going forward.

Shares of OIL INDIA LTD. was last trading in BSE at Rs.354.5 as compared to the previous close of Rs. 350.9. The total number of shares traded during the day was 46302 in over 703 trades.

The stock hit an intraday high of Rs. 357 and intraday low of 348. The net turnover during the day was Rs. 16370409.

Source: Equity Bulls

Click here to send ur comments or to

Disclaimer:The article above is a gist / extract of the original report prepared by the research firm / brokerage firm. This article is not to be considered as an offer to sell or a solicitation to buy any securities. This article is meant for general information only., its employees or owners or the research firms, its employees or owners won't be responsible for any liability that may arise from information, errors or omissions in these articles. or its employees or owners / the research firms or its employees or clients or owners may from time to time hold positions in securities referred in this article. For detailed research reports, please contact the concerned research firm directly.

Other Headlines:

Company Update: Venky's India Ltd - ACCUMULATE - TP Rs.4600 - Kotak
Company Update: NBCC (India) Ltd - BUY - TP Rs.229 - Kotak
Company Update: Petronet LNG Ltd - BUY - TP Rs.276 - Kotak
India Inc. has INR 1.8 lakh crore of cash trapped in their balance sheets: EY Report
Company Update: KNR Constructions Ltd - BUY - TP Rs.348 - Kotak
Akzo Nobel India Ltd - Initiating Coverage - Kotak Securities
Greenply Industries - Initiating Coverage - Angel Broking
Growth of India's apparel exports contingent upon overcoming internal and external headwinds: ICRA
Management Meet Update: Kansai Nerolac Paints Ltd - BUY - TP Rs.600 - Kotak
Ajanta Pharma - Initiating Coverage - Arihant Capital Markets
Result Update: Indo Count Industries Ltd - BUY - TP Rs.135 - Kotak
Arihant Capital Markets - Ambuja Cement 4QCY17 Result Update - HOLD
Result Update: Bodal Chemicals Ltd - ACCUMULATE - TP Rs.164 - Kotak
Result Update: Mahindra & Mahindra - BUY - TP Rs.864 - Kotak
Result Update: The India Cements Ltd - BUY - TP Rs.195 - Kotak
Result Update: Sun TV Network Ltd - REDUCE - TP Rs.994 - Kotak
Result Update: Voltas Ltd - ACCUMULATE - TP Rs.648 - Kotak
Result Update: Oil India Ltd - ACCUMULATE - TP Rs.392 - Kotak
Result Update: Petronet LNG Ltd - BUY - TP Rs.285 - Kotak
Result Update: Carborundum Universal Ltd - BUY - TP Rs.418 - Kotak
Proposed opening of coal sector to private players: Angel Broking
Result Update: Vascon Engineers Ltd (VEL) - BUY - TP Rs.57 - Kotak
Initiating Coverage: HSIL Ltd - Angel Broking
Result Update: The Phoenix Mills Ltd - BUY - TP Rs.672 - Kotak
Result Update: Time Technoplast Ltd - BUY - TP Rs.214 - Kotak
Result Update: Shipping Corporation of India - BUY - TP Rs.110 - Kotak
Result Update: PNC Infratech Ltd - BUY - TP Rs.208 - Kotak
Result Update: KNR Constructions Ltd - ACCUMULATE - TP Rs.348 - Kotak
Result Update: NBCC (India) Ltd - ACCUMULATE - TP Rs.229 - Kotak
Result Update: Jindal Stainless Hisar Ltd - BUY - TP Rs.318 - Kotak
Result Update: NMDC Ltd - SELL - TP Rs.130 - Kotak
Result Update: Talbros Automotive Ltd - BUY - TP Rs.389 - Kotak
Result Update: Sterling Tools Ltd - ACCUMULATE - TP Rs.428 - Kotak
Result Update: FIEM Industries Ltd - BUY - TP Rs.1203 - Kotak
Management Meet Update: Escorts Ltd - BUY - TP Rs.1051 - Kotak
Result Update: GE Shipping Company - BUY - TP Rs.500 - Kotak
Result Update: Marico Ltd - ACCUMULATE - TP Rs.327 - Kotak
Result Update: Mahanagar Gas Ltd - ACCUMULATE - TP Rs.1084 - Kotak
Result Update: Wonderla Holidays Ltd - BUY - TP Rs.457 - Kotak
Result Update: Asian Granito India Ltd - BUY - TP Rs.705 - Kotak
Result Update: NALCO - BUY - TP Rs.100 - Kotak
Result Update: VA Tech Wabag Ltd - BUY - TP Rs.672 - Kotak
Result Update: Greaves Cotton Ltd - REDUCE - TP Rs.136 - Kotak
PNB's 11300 cr fraud will impact the asset quality: Angel Broking
Lambodhara Textiles Ltd Q3 net profit climbs to Rs. 3.46 crores
Result Update: GHCL Ltd - BUY - TP Rs.365 - Kotak
CHHOTA (to) Mota Ideas - Result Update: Eveready Industries India Ltd - BUY - TP Rs.530 - Kotak
Result Update: Tata Motors - BUY - TP Rs.477 - Kotak
Result Update: Bajaj Auto Ltd - BUY - TP Rs.3670 - Kotak
Views on Indoco Remedies Ltd 3QFY2018: Angel Broking

Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2018