Valuations attractive; volume outlook strong

Company
10 Oct 2024
5 Min read 
  • Abhishek Nigam recommends buying Oil India stock at INR 574 with a target price of INR 720.
  •  The stock is expected to have a 25% upside potential.
  •  Oil India's financials show a strong production growth outlook and attractive valuations.
  •  The company's production growth is expected to be robust, with a 9% CAGR over FY24-FY27.
  •  The expansion of refinery capacity and new CGDs are driving demand for the company's products.
  •  The stock is currently trading at a P/E multiple of 10.3x FY27E EPS and 7.3x FY27E EV/EBITDA.
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