3 Bonus Issues: Multibagger PSU To Go Ex-Dividend For Rs 8.50/Share, TP Upgraded By Rs 258; Buy?

Large cap maharatna public sector undertaking Oil India Ltd shares declined 0.34% intraday today to settle at Rs 613.10 per share. The oil & gas PSU recommended Rs 8.50/- per share dividend on March 8, 2024. Leading brokerage firm Morgan Stanley maintained overweight call on Oil India Ltd shares and upgraded the target price to Rs 745 from Rs 487 earlier.

If you buy Oil India shares now at last trading price of Rs 613.10 apiece, you can fetch potential gain of 21.51% soon. Oil India shares jumped 62% year-to-date and soared by 96% in last 3-months only. In last 6-months, Oil India stock zoomed 125%. Check details below:

Oil India Shares To Go Ex-Dividend: As per the BSE filing of the company dated March 8, Oil India declared its second interim dividend of Rs 8.50/- per share dividend (85% of paid-up capital) for the financial year 2023-24. The dividend is expected to be paid on or before April 7, 2024. Oil India company fixed March 18, 2024 as the record date for interim dividend.

Oil India Dividend History: Oil India announced 35 dividends since February 10, 2010. In the last 12 months, the PSU announced an equity dividend amounting to Rs 9.00 per share. At the current share price of Rs 613.20, Oil India Ltd's dividend yield is 1.47%, according to Trendlyne.

Oil India Ltd Bonus Shares History: According to Trendlyne, "Oil India declared 3 bonuses issues since March 29, 2012. Oil India's last bonus issue was declared in the proportion of 1:2 and shares traded ex-bonus on March 27, 2018.

Oil India Shares Performance & Return: The 52-week high price of Oil India Ltd shares on BSE is Rs 647.40 apiece and 52-week low price is Rs 240.65 apiece, respectively. The company has a market capitalisation of Rs 66,484.88 crore. Oil India shares declined 2.94% in last 1-week, soared 31% in last 1-month, and offered attractive return of 135% in last 1-year. In last 2-years, Oil India stock soared 159% and offered huge return of 365% in last 3-years span.
The scrip jumped by 239% in last 5-years.

About: Oil India Limited (OIL) is a fully integrated Exploration & Production company in the upstream sector, with origin dating back to the glorious year (1889) of oil discovery in India. A Maharatna Company, OIL is a state-owned enterprise of the Government of India, under the administrative control of the Ministry of Petroleum and Natural Gas and is the second largest national oil and gas company in India. The story of OIL traces and symbolizes the growth and development of the Indian petroleum Industry. From the discovery of the crude oil in the far east of India at Digboi, Assam in 1889 to its present status as a fully integrated National Exploration and Production company with footprints across entire E&P value chain. The company is India's second largest National E&P Company, according to its official website.

Disclaimer: The stock has been picked from the brokerage report of Morgan Stanley. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.