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The Economic Times
The Economic Times
Rounak Khare

Oil India shares jump over 5%. What made Emkay upgrade the stock after Q1 results

Oil India Oil NRL Motilal Oswal Nomura Elara Capital Emkay Global

Shares of Oil India jumped over 5% to Rs 478.80 apiece on the BSE on Tuesday after multiple brokerages turned bullish on the stock. Domestic brokerage firm Emkay Global upgraded the Indian PSU company's rating to Buy, from Add, retaining the target price of Rs 575.

Elara Capital maintained its Buy rating on the stock, on higher production guidance and improving gas evacuation visibility, with a target price of Rs 672, implying an upside of 48%. Nomura and Motilal Oswal retained their neutral rating, with a target price of Rs 500 and Rs 485, respectively.

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