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    IOC   INE242A01010

INDIAN OIL CORPORATION LIMITED

(IOC)
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Indian shares surrender early gains on Omicron worries

12/03/2021 | 12:50am EST

BENGALURU, Dec 3 (Reuters) - Indian shares reversed course to trade lower on Friday as losses in pharma stocks overshadowed gains in energy and banking names, while concerns around the detection of two cases of the Omicron coronavirus variant in the country further weighed on sentiment.

The blue-chip NSE Nifty 50 index slipped 0.19% to 17,368.65 by 0507 GMT and the benchmark S&P BSE Sensex fell 0.23% to 58,326.74. Both indexes were however on course for their best week in seven.

"After a few days of rally, there is some negativity in the market as the Omicron variant is sending some fears," said AK Prabhakar, head of research at IDBI Capital, adding the breadth of the market remained positive.

Among major sub-indexes, the Nifty Pharma index fell the most, down as much as 0.94%, weighed down by losses in Dr Reddy's Laboratories and Cipla Ltd.

Financials bucked the trend, with the Nifty Bank index and the Nifty PSU index climbing 0.92% and 1.34%, respectively.

Energy and auto stocks were also trading in positive territory. Indian Oil Corp rose as much as 1.8% and Bharat Petroleum Corp climbed 2.5%, both hitting one-week highs.

Larsen & Toubro Ltd was among the top gainers on the Nifty50, rising as much as 3.11%, after the engineering conglomerate said on Thursday it would jointly own and operate green hydrogen projects with Goldman Sachs-backed green energy producer ReNew Power.

Global stocks fell due to a cocktail of factors, including Chinese ride-hailing giant Didi's delisting in New York and renewing concerns about U.S.-China relation. (Reporting by Vishwadha Chander in Bengaluru; Editing by Rashmi Aich and Subhranshu Sahu)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BHARAT PETROLEUM CORPORATION LIMITED -0.09% 382.2 Delayed Quote.-0.75%
CIPLA LIMITED 2.42% 927.6 Delayed Quote.-4.07%
DR. REDDY'S LABORATORIES LIMITED -3.42% 4256.45 End-of-day quote.-13.29%
INDIAN OIL CORPORATION LIMITED 1.03% 122.7 Delayed Quote.8.92%
LARSEN & TOUBRO LIMITED -0.70% 1911.2 End-of-day quote.0.85%
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Analyst Recommendations on INDIAN OIL CORPORATION LIMITED
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Financials
Sales 2022 5 603 B 74 504 M 74 504 M
Net income 2022 197 B 2 619 M 2 619 M
Net Debt 2022 1 055 B 14 033 M 14 033 M
P/E ratio 2022 5,54x
Yield 2022 8,81%
Capitalization 1 127 B 15 042 M 14 978 M
EV / Sales 2022 0,39x
EV / Sales 2023 0,40x
Nbr of Employees 31 648
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Technical analysis trends INDIAN OIL CORPORATION LIMITED
Short TermMid-TermLong Term
TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 29
Last Close Price 122,70 INR
Average target price 151,93 INR
Spread / Average Target 23,8%
EPS Revisions
Managers and Directors
Sandeep Kumar Gupta CFO, Finance Director & Director
Shrikant Madhav Vaidya Chairman
S. S. V. Ramakumar Director & Director-Research & Development
Lata Usendi Independent Non-Executive Director
Prasenjit Biswas Independent Director
Sector and Competitors
1st jan.Capi. (M$)
INDIAN OIL CORPORATION LIMITED8.92%14 889
EXXON MOBIL CORPORATION21.21%314 004
CHEVRON CORPORATION13.07%255 785
RELIANCE INDUSTRIES LTD0.22%201 412
BP PLC19.24%104 369
CHINA PETROLEUM & CHEMICAL CORPORATION11.85%77 554