Oil India jumps to 18-month high after quarterly profit rise

Oil India

14/05/2026 05:31

** Shares of Oil India OILI.NS rise as much as 4.7% to 531 rupees, highest level since November 2024

** Set for sixth consecutive day of rise

** OILI last up 4%

** Indian explorer reported 12.4% y/y rise in fourth-quarter profit; rev up 8% y/y

** Ambit Capital ("buy", PT 641 rupees) flags lower-than-expected expenses in Q4; says OILI share price has not increased much since beginning of Iran war due to fear of windfall taxes

** Emkay Capital ("add", PT 575 rupees) says "bumper" FY27 likely after recent lowering of onshore crude royalty rates, reduced risk of windfall taxes

** OILI on avg rated "buy" by 21 analysts; median PT is 532.5 rupees - LSEG data

** YTD, OILI up 24.2%

 (Reporting by Abhirami G in Bengaluru)

 ((abhirami.g@thomsonreuters.com))