5 Bonus Issues, Rs 8/Share Dividend: Buy Multibagger Energy PSU, Dividend On April 30; TP Rs 195

Motilal Oswal has recommended traders to buy large cap multibagger PSU Indian Oil Corporation Ltd share with target price of Rs 195 apiece. Current market price of Indian Oil Corporation share on BSE is Rs 172.85 per share with intraday gain of 2.25%. The stock witnessed spurt in volume today by more than 1.06 times. The PSU has a market capitalisation of Rs 2,44,015.00 crore. Indian Oil Corporation share offered whopping returns of 122% in last 1-year only to shareholders thus more than doubling their investment.

During this time Sensex gained 22.74%. It is important to note here that Board of IOC will hold meeting on April 30 to consider final dividend along with financial results. Indian Oil Corporation has a market capitalisation of Rs 2,43,803.18 crore. More details about Indian Oil Corporation Ltd below:

Indian Oil Corporation Ltd To Consider Dividend On April 30: According to the exchange filing of IOC dated April 10, 2024, "Board Meeting of the Company is scheduled on Tuesday, 30 April 2024, inter alia, to consider and approve Standalone as well as Consolidated Audited Financial Results of the Company for the quarter and year ended 31% March 2024. It is also hereby informed that Board may consider declaration of final dividend for the financial year 2023-24, if any, at the aforesaid Board Meeting."

Indian Oil Corporation Ltd Dividend History: Indian Oil Corporation announced huge 38 dividends since August 27, 2001. In last 12 months, Indian Oil Corporation shares announced an equity dividend amounting to Rs 8.00 per share. At the current share price of Rs 172.85/share, IOC offers an attractive dividend yield of 4.63%.

Indian Oil Corporation Ltd Bonus Share History: Indian Oil Corporation offered 5 bonuses issues since August 14, 2003. The last Bonus that Indian Oil Corporation was declared in the proportion of 1:2 with ex-date fixed as June 30, 2022.

Indian Oil Corporation Ltd Technical: Score is 72.24 indicating the stock is technically strong. Stocks with score above 70 are considered as technically strong. RSI is 50.3, RSI below 30 is considered oversold and above 70 overbought. MFI is 64.2, MFI below 30 is considered oversold and above 70 overbought. MACD is above its center and signal Line, this is a bullish indicator. Mutual Funds have increased holdings from 1.75% to 2.34% in Mar 2024 quarter. Number of FII/FPI investors increased from 788 to 824 in Mar 2024 quarter, according to Trendlyne.

IOC Share Performance: The 52-week high price of Indian Oil Corporation share on BSE is Rs 196.80 per share (08/02/2024) and 52-week low price is Rs 77.22 per share (18/04/2023), respectively. Indian Oil Corporation shares surged 33% year-to-date, soared 90% in last 6-months, rallied 122% in last 1-year, and offered gain of 187% in last 3-years. IOC shares offered return of 292% in last 10-years.

Indian Oil Corporation About: Indian Oil Corporation Ltd. (IOCL), India's largest commercial ISO-9002 certified enterprise, is the highest ranked Indian company in the prestigious Fortune 'Global 500' listing. IOCL is the 20th largest petroleum company in the world, according to its official website.

Disclaimer: The stock has been picked from the brokerage report of Motilal Oswal. 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.