Oil India shares jump over 2%

Reuters Updated - January 24, 2018 at 09:40 PM.

Shares of Oil India Ltd today gained 2.2 per cent as Kotak Securities has upgraded the stock to “buy’’ from “add’’.

“We believe stock is discounting a fairly bleak scenario of no improvement in net crude realisations after subsidy burden,’’ Kotak says.

Inexpensive valuations and good dividend yield of 5 per cent will provide adequate support on downside, it says.

“We believe the valuation gap between Oil India and ONGC may narrow over the next 12 months,’’ the report says.

Published on March 19, 2015 04:05