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    Rajesh AK in News

    15 Feb 10:05 AM


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    Oil India Share price rises 12%; scale 52 week highs on strong volume outlook

    Stock Market Today: Oil India share price gained more than 12% during the intraday trades on Thursday to scale 52-week highs. The production growth guidance remains strong and analysts are also raising their forward earnings estimates led by volume outlook, stable & healthy Oil & gas realisations

    Oil India share price gained more than 12% during the intraday trades on Thursday to scale 52-week highs.

    Oil India' net profit during the quarter ending December at ₹1,584.28 had declined 9% year-on-year. The earnings before interest tax depreciation and amortisation (Ebitda) at ₹2,613.75 declined 11.6% year-on-year on higher expenses. The net sales at ₹5,815.02 crore declined marginally 1.5% .

    Oil India net profit though declined nevertheless analysts at Motilal Qswal Financial Services said that was better than their expectations.

    The decline in Ebitda is attributed primarily due to higher other expenses compared to the previous year.

    Oil India's Crude oil Sales volumes at 0.847 million metric tonne (mmt) came better than 0.772 mmt during the year ago quarter. The gas sales at 0.649 Billion cubic meter were higher than 0.610 Billion Cubic meter during the year ago quarter.

    It is the rising volumes and production guidance that is keeping analysts bullish on the Oil India stock.

    Analysts at MOFSL said that Production growth guidance remains robust, with drilling activity and development wells in old areas contributing to this growth. OIL India is also applying new technologies to grow production. Capacity expansion for Numaligarh refinery (from 3mmt to 9mmt) would also be completed by September’2025, which would help in further upside.

    Total sales volumes were in line with our estimates, with net oil realization at USD74.3/bbl, they added.

    Oil India has guided for Oil production of 4mmt and gas production of 5 bcm .

    Source - MInt


    • Rajesh AK

      Hllo