Nomura has retained a ‘Neutral’ rating on Oil India Ltd, with a target price of ₹460, implying a 7.9% upside from the current market price of ₹426.25 (as of latest close).
The brokerage noted that Q4 FY25 results came in below expectations, as a volume beat was offset by higher other expenses, impacting the bottom line. Additionally, the full-year performance was dented by lower realisations, reflecting softness in commodity prices.
On a positive note, Numaligarh Refinery Ltd (NRL)—a subsidiary of Oil India—posted a strong quarter, benefiting from a sharp increase in refining margins, which provided some cushion to the overall performance.
Nomura remains cautious in the near term, citing earnings volatility and global crude dynamics, but sees limited downside from current levels.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Please consult a financial advisor before making any investment decisions.
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