Oil India Interim Dividend: Multibagger Maharatna PSU Stock Falls Over 2% Today

Large cap maharatna status public sector undertaking Oil India Ltd shares witnessed a decline of 2.26% intraday today. Current market price of Oil India shares on BSE is Rs 554.50 apiece. Oil India stock witnessed rally of 78% in last 3-months and gave 124% return in last 1-year. The company informed about change in senior management and decision to consider interim dividend yesterday. Earlier, Motilal Oswal has recommended buy call to Oil India Ltd stock with target price of Rs 650 apiece. If you buy Oil India shares today at the current market price of Rs 554.50 apiece, you can fetch likely return of 17.22%. Check details below:

Oil India Ltd Declares Change In Senior Management: As per the regulatory filing of Oil India Ltd dated February 28, 2024, "Pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015, it is hereby informed that the following Senior Management Personnel of the Company (One level below the Board of Directors) will be superannuating from the services of the Company on 29th February, 2024:

1 Shri Biswabrata Lahkar Executive Director (Business Development) 2 Shri Alakh Niranjan Pathak Executive Director (F&A)."

Oil India Ltd To Mull Interim Dividend On March 8: According to the BSE 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: 52-week high price of Oil India shares on BSE is Rs 630.00apiece and 52-week low price is Rs 240.65 apiece, respectively. The company has a market capitalisation of Rs 60,189.91 crore. Oil India shares gained 78% in last 3-months, jumped 100% in last 6-months, rallied 125% in last 1-year, rose 148% in last 2-years, and offered return of 339% in last 3-years. In last 5-years, the scrip gained 217%.

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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The stock highlights the bonus share, stock split, and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.