Oil India Ltd (OIL)

Oil India Signs Contract with Dolphin Drilling for Hiring Blackford Dolphin - 23 Jul, 2024

Oil India has signed a contract with Dolphin Drilling, Norway, for the hiring of the Anchor Moored Semi-Submersible Drilling Unit Blackford Dolphin to undertake exploration activities in Andaman Offshore Blocks. The stock surged by 3% on the news.

Oil India Signs Contract and Approves Bonus Shares - 22 Jul, 2024

Oil India has signed a contract with Norway's Dolphin Drilling for the hiring of the Blackford Dolphin drilling unit for exploration activities in Andaman offshore blocks. Additionally, the company's board approved the issuance of bonus shares in a 1:2 ratio to eligible shareholders.

Oil India Shares Surge as E&P Companies Call for Tax Reductions - 21 Jul, 2024

Oil India's shares have surged by 25% in the past month, with a P/E ratio of 14.7x and an expected EPS growth rate of 21%. Meanwhile, oil and gas companies are calling for tax reductions on older oil blocks and customs duty exemptions on imports to stimulate domestic production.

New Reservoir Discovered in Dirok Field by HOEC, OIL and IOCL - 19 Jul, 2024

A new reservoir called Sand-9 was discovered in the Dirok Field located in the ON-94/1 block at Margarita in the Tinsukia district of Assam. The well Dirok-1 flowed 6 million standard cubic feet of gas per day during testing. Further production testing is ongoing to revise and add volumes to proven reserves.

Oil India Eyes Expansion Opportunities - 17 Jul, 2024

Oil India is exploring expansion opportunities through bidding for offshore hydrocarbon blocks in Bangladesh, while also looking into alternative energy sources such as CBM, UCG, and CBG. The company's share price has seen significant gains due to strong investor confidence in earnings growth and sustained Brent crude prices above $80/barrel.

Oil India Awaits Entry of International Oil Company for Deepwater Exploration - 15 Jul, 2024

Oil India holds acreages in the Andaman waters under the Open Acreage Licensing Program (OALP) and is waiting for an international oil company with deepwater and ultra-deepwater exploration expertise to participate in current and upcoming bidding rounds.

Oil India Receives Target Price Upgrade from Morgan Stanley - 13 Jul, 2024

Global brokerage firm Morgan Stanley has upgraded its target for Oil India by 33%, giving it an overweight rating. The company is also involved in a joint venture entity undertaking the North East Gas Grid project in Tripura.

Oil India Shares Rally After Morgan Stanley Raises Target Price - 12 Jul, 2024

Oil India shares rallied 9% after Morgan Stanley raised its target price to Rs 663 from Rs 496 and maintained an overweight rating. The brokerage cited Oil India's doubled gas production, good dividend distribution, and earnings set to double in 2029. The stock has risen 133% so far in 2024 and gained every month this year.

Oil Exploration Firms Rally Amid Domestic Focus Buzz - 11 Jul, 2024

State-run oil exploration firms, including Oil India and ONGC, saw a surge in their share prices by up to 13% due to hopes of increased focus on domestic exploration and production.

Oil India Ltd Stock Rallies Nearly 6% - 08 Jul, 2024

Shares of Oil India hit a new high at Rs 517 and rallied nearly 6% in intra-day trades. Brokerage firm JM Financial Institutional Securities reiterated its BUY rating on ONGC and Oil India, given strong dividend potential and TP based on $75/bbl net crude realization.

Oil India Allots Bonus Shares to Eligible Members - 04 Jul, 2024

Oil India has allotted fully paid-up bonus equity shares in the proportion of 1:2, increasing its paid up equity share capital to Rs. 1626.60 crore.

Oil India Shares Surge After Bonus Issue Announcement - 02 Jul, 2024

Oil India shares surged almost 8% to an all-time high after announcing a 1:2 bonus share issuance. The paid-up share capital will rise to Rs 1,626.61 crore post-bonus. Additionally, the central government increased windfall gains tax on crude oil, leading to further stock price growth.

IIFL Securities Recommends BUY Call on Oil India Ltd Shares - 01 Jul, 2024

IIFL Securities has recommended a BUY call on Oil India Ltd shares with an entry price of Rs 723 apiece and target share prices of Rs 760 apiece and Rs 790 apiece, while keeping the stop loss at Rs 686 per share.

Oil India Shares Rally Ahead of Bonus Issue - 28 Jun, 2024

Oil India's shares rallied 5% on the BSE ahead of bonus shares in the ratio of 1:2, and Elara Capital has a Buy rating with a target price of Rs 823 per share.

Fitch Anticipates High Capex Levels in Oil Industry - 24 Jun, 2024

Industry players, including upstream companies and sovereign-backed downstream entities, are expected to maintain high capital expenditure levels for production growth, reserve adequacy, refining, petrochemical, and retail capacity expansions.