PSU Stocks to BUY: After strong results in the September quarter, the brokerage firm is bullish on the shares of public sector company Indian Oil and has advised to buy it. Today there is a rise of about two and a half percent in this share and it is trading at the level of Rs 95 (Indian Oil Share Price). The Maharatna company has also announced a dividend of 50% on every share.
Indian Oil Share Price Target
Nuvama Wealth has advised to buy Indian Oil shares and has given a target price of Rs 115. On Wednesday this share was at Rs 92. In comparison, the target price is 25% higher. The 52 week high for this stock is Rs 102 and Rs 68. Indian Oil shares have increased by about 10 percent in a week. One month return is 4.2 percent, three month return is about 1 percent, so far this year it has given 24 percent return, 38 percent return in one year and 82 percent return in three years.
Indian Oil Q2 Results
The brokerage said in its report that Indian Oil's EBITDA recorded a 10-fold jump on an annual basis and stood at Rs 212 billion. Refining margins remained strong. There is pressure on domestic retail margins. The brokerage said Indian Oil's gross refining margin remained flat at $18 per barrel. However, due to recession, there may be pressure on retail margins in the near term. The rise in crude will have a negative impact on retail margins.
Indian Oil Dividend Details
Indian Oil has also declared an interim dividend of 50 percent i.e. Rs 5 per share on the face value of Rs 10. The record date (Indian Oil Dividend Record Date) has been fixed on 10th November and the dividend will be paid by 30th November. The dividend yield of Indian Oil is 3.17 percent. This means, if an investor invests Rs 100 in this stock, he will get Rs 3.17 as dividend in one year.
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