Oil India Ltd (OIL)

Oil India Board Considers Bonus Issue Amid Tax Cut - 16 May, 2024

Oil India Ltd's board is set to consider a bonus issue in its upcoming meeting on May 20. The company's shares rallied by 5% after the announcement. Additionally, the Central government has cut the windfall tax on petroleum crude, which will benefit Oil India as an upstream oil exploration and production company.

Oil India Considers Bonus Share Issuance After Six Years - 15 May, 2024

Oil India's board is set to consider issuing bonus shares at its upcoming meeting on May 20th, marking the first time since 2018 that the company has had a bonus issue. The company recorded a YoY decline in net profit of ₹1,584 crore in Q3 FY24.

Oil India Clarifies on Media Reports of Losses Due to Project Delays - 14 May, 2024

Shares of Oil India Ltd rose over 3% after the company issued a clarification on media reports claiming significant losses due to project delays and irregularities in Assam. The state-owned oil exploration and production company said that it has been responding to queries raised by the CAG and restructuring and automation of activities at its field headquarters in Duliajan, Assam, were ongoing.

HDFC Securities Sees Up to 14% Upside in Oil India Ltd - 08 May, 2024

Oil India Ltd's stock has been consolidating in a narrow range for the last six sessions, with indicators and oscillators showing strength in the current uptrend. HDFC Securities recommends buying the stock with a target price of Rs. 725 and stop-loss at Rs. 590.

Oil India Stock Consolidates as Job Creation Rises - 07 May, 2024

Oil India's stock has been consolidating in a narrow range for the past six sessions. Meanwhile, the oil and gas industry saw a 15% YoY increase in new job creation, with roles like petroleum engineers, drilling engineers, and production operators being sought after.

Oil India Ltd sees enviable returns of 499% over the past three years - 06 May, 2024

Investors in Oil India have seen impressive returns of 499% over the past three years, largely due to its dividend payments. The CEO is also remunerated more modestly than most CEOs at similarly capitalized companies.

Oil India Faces Windfall Tax Increase; Natural Gas Prices Set - 02 May, 2024

Oil India faces potential impact from government's increase in windfall tax, while domestic natural gas prices are set for May 2024. A buy call has been made on the stock due to its bullish trend and rising volumes.

Government Cuts Windfall Tax on Crude Oil - 01 May, 2024

The Indian government has reduced the windfall tax on crude oil to Rs 8,400 per metric ton from Rs 9,600. This will benefit upstream oil exploration and production companies such as ONGC and Oil India Ltd who will now pay a lower tax on their crude.

Oil India Limited Contributes 0.3 MMT to Domestic Crude Production - 25 Apr, 2024

In March, Oil India Limited contributed 0.3 MMT to the domestic crude production of 2.5 MMT, with ONGC contributing 1.6 MMT. The difference between domestic gas production and imports widened to 2,456 MMSCM.

Oil India Plans Record Drilling Amid Rising Prices - 18 Apr, 2024

Oil India is pushing its limits to increase exploration and drilling with a target of 78 wells in FY25. Despite govt. efforts, Indian firms produced only marginally more crude oil in FY24 than the previous year. The elevated geopolitical tensions and rising crude oil prices could impact Indias external trade balance.