Indian Oil rises after earnings beat; Nomura keeps Buy rating
In short
Indian Oil shares rose after its second-quarter results beat expectations. Nomura kept a Buy rating and set a ₹185 target price, saying strong gross refining margins and inventory gains helped the numbers.
The note suggests about 42% upside from the target. The exact profit figures and the full share-price move were not stated.
What the reporting says
Indian Oil shares rose after a second-quarter earnings beat, with Nomura maintaining a Buy rating and a ₹185 target price, according to a CNBC TV18 Market summary. The note said strong gross refining margins and inventory gains drove the beat, and it implied about 42% upside from the target. The exact earnings figures and the size of the share move were not stated in the available reporting.
Why it matters
Indian Oil shares moved higher after a second-quarter results beat, with Nomura keeping a Buy rating and a ₹185 target price. The broker said stronger gross refining margins and inventory gains supported the performance, and the summary pointed to about 42% upside. The reporting does not provide the company’s reported profit, revenue, or the precise percentage gain in the stock on the day.