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Buy Indian Oil Corporation, target Rs 142: CK Narayan

Buy Indian Oil Corporation Ltd. at a price target of Rs 142.0 and a stoploss at Rs 132 from entry point.

Updated: Nov 15, 2019, 09.08 AM IST
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CK Narayan of Chart Advise has a buy call on Indian Oil Corporation Ltd. with a target price of Rs 142. The current market price of Indian Oil Corporation Ltd. is Rs 136.95. Time period given by the analyst is Intra Day when Indian Oil Corporation Ltd. price can reach the defined target. CK Narayan recommended to keep stoploss at Rs 132. Indian Oil Corporation Ltd., incorporated in 1959, has a market cap of Rs 128926.91 crore.

Indian Oil Corporation Ltd. key Products/Revenue Segments include Petroleum Refinery Products which contributed Rs 497400.43 Crore to Sales Value (98.21 % of Total Sales), Other Operating Revenue which contributed Rs 5521.34 Crore to Sales Value (1.09 % of Total Sales), Grants which contributed Rs 3196.34 Crore to Sales Value (0.63 % of Total Sales), Scrap which contributed Rs 139.11 Crore to Sales Value (0.02 % of Total Sales), Sale of services which contributed Rs 96.16 Crore to Sales Value (0.01 % of Total Sales), Subsidy which contributed Rs 81.11 Crore to Sales Value (0.01 % of Total Sales)for the year ending 31-Mar-2018.

For the quarter ended 30-09-2019, the company has reported a Consolidated sales of Rs 111128.70 Crore, down -15.36 % from last quarter Sales of Rs 131296.73 Crore and down -16.04 % from last year same quarter Sales of Rs 132357.08 Crore Company has reported net profit after tax of Rs 83.59 Crore in latest quarter. The company’s top management includes Dr.Jagdish Kishwan, Dr.S S V Ramakumar, Mr.Akshay Kumar Singh, Mr.Chitta Ranjan Biswal, Mr.D S Shekhawat, Mr.G K Satish, Mr.Gurmeet Singh, Mr.Parindu Bhagat, Mr.Ranjan Kumar Mohapatra, Mr.Samirendra Chatterjee, Mr.Sandeep Kumar Gupta, Mr.Sanjiv Singh, Mr.Shankar Chakraborti, Mr.Shrikant Madhav Vaidya, Mr.Vinoo Mathur, Mrs.Indrani Kaushal, Ms.Lata Usendi. Company has V Singhi & Associates as its auditoRs As on 30-09-2019, the company has a total of 9,414,158,922 shares outstanding.

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