Buy Oil India, target price Rs 223: Yes Securities

Yes Securities has buy call on with a target price of Rs 223. The current market price of Oil India Ltd. is Rs 205.9.

Time period given by analyst is Intra Day when Oil India Ltd. price can reach defined target.

Oil India Ltd., incorporated in the year 1959, is a Mid Cap company (having a market cap of Rs 22322.48 Crore) operating in Gas & Petroleum sector.

For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 6276.58 Crore, down -12.75 % from last quarter Total Income of Rs 7193.40 Crore and up 233.88 % from last year same quarter Total Income of Rs 1879.89 Crore. Company reported net profit after tax of Rs 1036.82 Crore in latest quarter.

Investment Rationale
After breaking through the hurdle zone recently, the stock resumed its upward journey. Appearance of another bullish candle with close above Rs 200 ensures shift of range on the upside.

Promoter/FII Holdings
Promoters held 56.7 per cent stake in the company as of June 30, 2021, while FIIs held 8.5 per cent, DIIs 18.5 per cent and public and others 16.3 per cent.

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