BSE Code: | NSE Code: | ISIN: | Sector:
Research Report Detail
|Report Date||Call||Price@Call||Target Price
|Current Status||Time Horizon|
|Target Hit|| Long (1Y)
Religare recommends buy on Indian Oil
Religare has recommended buy on Indian Oil for target price of Rs 375. Religare prefers IOC due to its diversified and lower-risk earnings profile compared to peers. It has valued the refining business at 6.5 times FY18-FY19 estimated average EBITDA for marketing at 5 times, petrochem at 7.5 times and the pipeline business at 5 times, yielding a September 2017 target of Rs Rs 375.