Indian Oil Corporation share update & latest news

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Indian Oil Corporation has signed a term sheet with Praj Industries to enhance biofuel and formation of a joint venture company for battery swapping business in India with 50:50 collaboration between Indian Oil and Sun Mobility PTE.

IOC share details

Indian Oil Corporation Limited, integrated in the year 1959 in Gas & Petroleum sector, is a Large Cap company with a market cap of Rs 135,987.53 crore. The sector of Indian Oil Corporation Limited is Gas & Petroleum and the industry of  Indian Oil Corporation Limited is oil refining & marketing. The fundamental products/revenue segments of Indian Oil Corporation Limited encompass petroleum refinery products, different working revenue, scrap, sale of services, different offerings and subsidies for the year ending 31-March-2022.

Key Indices listed on

  • NIFTY NEXT 50
  • S & P BSE 500
  • NIFTY100
  • NIFTY200

Revenue and Profit of Indian Oil Corporation Limited

For the quarter ended 31-03-2023, the company has pronounced a Consolidated Total Income of Rs.205,087.53 Crore, a reduce of 1.06% from the preceding quarter total Income of Rs.207,288.58 Crore and an amplify of 16.61% over the same quarter last year. The total profits is Rs 175,872.72 crore.  ,  The company said a net earnings after tax of Rs 10,751.72 crore in the latest quarter.

Stock performance of Indian Oil Corporation Limited

Shares of Indian Oil Corporation Ltd fell 1.26 per cent to Rs 98.0 in Monday’s trading on July 7, whilst the benchmark Nifty was up 50.0 factors at 19381.8. The stock had closed at Rs 99.25 in the preceding session.  The stock hit a 52-week low of Rs 65.2 and a excessive of Rs 101.44 The company had a market cap of Rs 138345.77 crore on BSE. The stock trades at 14.13 instances its trailing 12-month EPS of Rs 6.93 per share and 0.77 instances book value.  Return on Equity (ROE) stood at Rs.7.0.

Details of Right issues

  • The board of Indian Oil Corporation (IOC) has given permission to raise capital up to Rs 22,000 crore via a rights issue.
  • “The company will elevate capital now not exceeding Rs 22,000 crore through trouble of equity shares on equity basis, issue to receipt of critical statutory approvals,” the company stated in a filing.
  • Details of the Rights Issue including issue price, rights entitlements, record date, issue opening date, issue closing date, price phrases etc. will be made public in due course.
  • In addition, the Board has additionally accredited formation of a joint venture company for battery swapping business in India with 50:50 collaboration between Indian Oil and Sun Mobility PTE.
  •  Indian Oil’s equity investment in the joint venture will be Rs 1,800 crore via the financial year 2026-27.  The Board has additionally accepted funding of $78.31 million in IOCL Singapore PTE Ltd, Singapore (wholly owned subsidiary of Indian Oil) for acquisition of desire shares and warrants of SMS.
  • These investments are subject to obtaining necessary regulatory approvals.

Indian Oil Corporation Term sheet with Praj Industries

Indian Oil has additionally signed a term sheet with Praj Industries to enhance biofuel manufacturing abilities in India. Various biofuels under this MoU encompass Sustainable Aviation Fuel (SAF), Ethanol, Compressed Biogas (CBG), Biodiesel and Bio-Bitumen etc.

Indian Oil Corporation share performance

Ultimate week end me Indian Oil shares closed at Rs 99.40, up 0.81% on the NSE.  So far this year, shares are up about 24% on a year-to-date basis. As per Trend line data, Indian Oil Corp has an common goal of Rs 102.29 and consensus estimate suggests an upside of 3.11% from current levels.

What is the target of IOC share?

Target 1 – 71.75
Target 2 – 79.72
Target 3 – 91.13
Target 4 – 94.52
Target 5 – 97.03

Is IOC overvalued or undervalued?

Estimated DCF Value of one IOC stock is 305.25 INR. Compared to the current market price of 97.45 INR, the stock is Undervalued by 68%.

Is IOC share good for investment?

Prabhudas’ target suggests an upside of 44 per cent its previous close at Rs 87. IOC is set to commission various projects over the next two years, driving further growth. We maintain a ‘buy’ rating with a target price of Rs 125 based on EV/EBITDA of 5.5x FY24E as the earnings environment stabilizes,” it said.

Is IOC good for long-term?

Considering the fact that the company historically commanded premium over its peers, thanks to its stability in profits, sizeable non-oil business and size, the low P/E is an invitation to long-term investors.

Disclaimer

The Estimates data displayed by Moneyvii.com is not a recommendation to buy or sell any securities. Estimates data is a third party aggregated data provided by S&P Global Market Intelligence LLC for informational purposes only. The Company advises the users to check with duly registered and qualified advisors before taking any investment decision. The Company does not guarantee the accuracy, adequacy or completeness of any information/data and is not responsible for any errors or omissions or for the results obtained from the use of such information/data. The Company or anyone involved with the Company will not accept any liability for loss or damage as a result of reliance on the Estimates data. The Company does not subscribe or endorse any of the services and/or content offered by such third party.

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