Sunday, August 28, 2011

Oil India - Buy on correction




Oil India is the smaller peer of ONGC, which endows it with twin benefits, it enjoys the same traits as its larger peer when it comes to being defensive, but its smaller size means it can grow faster. It has steadily improved output in the past few quarters and is looking for overseas acquisitions. Being restricted to Northeast India was a major drawback, but it is expanding in other parts of India and overseas.


The scrip has under performed during the last 1 year as per the details given below.


Time Span Price Change %Change
Today 1,307.05 -1.30 -0.09
Week 1,302.50 5.85 0.44
Month 1,257.40 50.95 4.05
Three Months 1,268.05 40.30 3.17
Six Months 1,217.35 91.00 7.47
One Year 1,442.50 -134.15 -9.29


Investors should add this scrip to your portfolio on any declines to Rs.1200 and hold for a target price of Rs.1800/-


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