Oil India shares up 3% today; brokerage target price hints at 29% further upside
“We value Oil India’s standalone business at INR368/sh (7x Mar-27E EPS) and its investments at INR271/sh,” the brokerage said.
- May 26, 2026,
- Updated May 26, 2026 1:47 PM IST
Oil India Ltd shares have gained as much as 2.80% to touch the day’s high of Rs 496.30 on the BSE in Tuesday’s trade against their previous close of Rs 482.75 apiece. Meanwhile, the domestic brokerage firm, HDFC Securities maintained its ‘Buy’ recommendation in its latest results update note.
Oil India share price target
HDFC Securities has revised its target price for the stock to Rs 639 per share, indicating an upside potential of nearly 29% from current levels, noting that the revised target is premised on “oil and gas production growth at 3% CAGR over FY26-28E and (2) higher crude oil price realization".
“Q4FY26 standalone EBITDA at INR18.21 bn (-8.2% YoY, +39.1% QoQ) and APAT at INR17.9bn (+12.4% YoY, +121.4% QoQ) were above our estimates, owing to higher-than expected realisation and other income,” it said.
HDFC Securities has bumped up its earnings per share (EPS) estimates for FY27 and FY28 by 24.9% and 14.9%, respectively. This optimistic revision factors in the dual tailwinds of sustained higher crude oil price realizations and a favorable rupee-dollar exchange rate.
“We value Oil India’s standalone business at INR368/sh (7x Mar-27E EPS) and its investments at INR271/sh,” the brokerage said.
“NRL – reported GRM of USD21.17/bbl for the quarter. Excise benefit for FY26 was INR30bn and it will continue post capacity expansion to 9mmtpa as well,” it added.
Oil India Ltd shares have gained as much as 2.80% to touch the day’s high of Rs 496.30 on the BSE in Tuesday’s trade against their previous close of Rs 482.75 apiece. Meanwhile, the domestic brokerage firm, HDFC Securities maintained its ‘Buy’ recommendation in its latest results update note.
Oil India share price target
HDFC Securities has revised its target price for the stock to Rs 639 per share, indicating an upside potential of nearly 29% from current levels, noting that the revised target is premised on “oil and gas production growth at 3% CAGR over FY26-28E and (2) higher crude oil price realization".
“Q4FY26 standalone EBITDA at INR18.21 bn (-8.2% YoY, +39.1% QoQ) and APAT at INR17.9bn (+12.4% YoY, +121.4% QoQ) were above our estimates, owing to higher-than expected realisation and other income,” it said.
HDFC Securities has bumped up its earnings per share (EPS) estimates for FY27 and FY28 by 24.9% and 14.9%, respectively. This optimistic revision factors in the dual tailwinds of sustained higher crude oil price realizations and a favorable rupee-dollar exchange rate.
“We value Oil India’s standalone business at INR368/sh (7x Mar-27E EPS) and its investments at INR271/sh,” the brokerage said.
“NRL – reported GRM of USD21.17/bbl for the quarter. Excise benefit for FY26 was INR30bn and it will continue post capacity expansion to 9mmtpa as well,” it added.