IOC stocks: Buy Indian Oil Corporation, target price Rs 85: ICICI Securities

has buy call on with a target price of Rs 85. The current market price of Indian Oil Corporation is Rs 68.3. Time period given by analyst is one year when . price can reach defined target.

Indian Oil Corporation Ltd., incorporated in the year 1959, is a Large Cap company (having a market cap of Rs 96589.27 Crore) operating in Gas & Petroleum sector.

Indian Oil Corporation Ltd. key Products/Revenue Segments include Petroleum Refinery Products, Other Operating Revenue, Scrap, Sale of services, Other Services and Subsidy for the year ending 31-Mar-2022.


For the quarter ended 30-09-2022, the company reported a Consolidated Total Income of Rs 233800.98 Crore, down -8.67 % from last quarter Total Income of Rs 256004.60 Crore and up 35.42 % from last year same quarter Total Income of Rs 172646.31 Crore. Company reported net profit after tax of Rs -1156.88 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 51.5 per cent stake in the company as of 30-Sep-2022, while FIIs owned 16.59 per cent, DIIs 11.23 per cent.

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