Indian Oil Shares Dip Amid Margin Fall

  Published 9 months ago

Indian Oil shares dip 0.7% to ₹139 as gross refining margin falls sharply YoY today.

  • Jefferies maintains a Buy rating, target ₹160, citing range‑bound crude and reasonable valuation for the market.
  • CLSA holds a rating, target ₹135, and expects market‑share gains, driving faster volume growth in the industry.
  • Nomura keeps Buy, target ₹160, forecasts healthy OMC profitability with a benign crude outlook for 2025.

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