Maharatna PSU To Mull 2nd Interim Dividend On March 8, Motilal Oswal Assigns Buy

Large cap maharatna status public sector undertaking Oil India Ltd will consider its second interim dividend for financial year 2023-24 and scheduled a meeting of Board of Directors for March 8 for the same. Last trading price of Oil India Ltd shares on BSE is Rs 567.30 apiece with intraday fall of 1.36%. Oil India Ltd shares soared gained 41% in last 1-month and soared 106% in last 6-months. Check details below:

Oil India Ltd To Consider 2nd Interim Dividend: As per the regulatory filing of the company dated February 28, 2024, "Notice is hereby given that a Board Meeting of the Company has been scheduled on Friday, 08th March, 2024, inter-alia to consider and declare Second Interim Dividend for Financial Year 2023-24, if any."

Oil India Ltd Shares Performance & Return: The 52-week high price of Oil India shares on BSE is Rs 630.00 apiece and 52-week low price is Rs 240.65 apiece, respectively. The company has a market capitalisation of Rs 61,518.31 crore. Oil India shares zoomed 90% in last 3-months, soared 130% in last 1-year, rallied 154% in last 2-years, and offered return of 349% in last 3-years. In last 5-years, Oil India stock surged 224%.

Motilal Oswal Recommends Buy Call: According to the analyst, "The stock currently trades at a P/E multiple of 8.5x FY25E EPS and 6.4x FY25E EV/EBITDA. We value the stock at 7x Dec'25E standalone adj. EPS and add investments to arrive at our target price of Rs 650." Oil India remains a strong conviction BUY with a 1.5x FY25E P/B (standalone) valuation. It is a unique play to benefit from the strong multi-year upcycle in both upstream and refining sectors, added the analyst. If you buy Oil India shares at last trading price of Rs 567.30 apiece, you can fetch potential return of 14.58%.

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.

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