1:2 Bonus Share, Rs 3.75 Dividend: Multibagger Oil PSU To Go Ex-Bonus In 4-Days, Buy?

 

Oil India Ltd shares will soon trade ex-bonus on July 2, 2024 in the proportion of 1:2 implying shareholders will be eligible to receive 1 bonus share for every 2 shares held as on the record date i.e. July 2. The current market price of Oil India share on BSE is Rs 704.70 per share. The oil exploration PSU has a market capitalisation of Rs 76,418.03 crore. Oil India share offered eye-popping returns of 86% year-to-date and jumped 189% in last 1-year. Oil India on May 20 recommended 1:2 bonus share along with a final dividend of Rs 3.75 per share for FY 2023-24. Oil India is yet to declared record date for dividend. Meanwhile, 3 leading analysts has assigned buy call to Oil India share with highest target price of Rs 775. Check details below:

Should You Buy Oil India Shares? Motilal Oswal has recommended buy call to Oil India stock with target price of Rs 775 per share. Sharekhan has also recommended buy call to Oil India shares with target price of Rs 755 per share. ICICI Securities too has buy on Oil India shares with target price of Rs 767 per share. According to Motilal Oswa, "OINL remains a strong conviction at 1.3x FY26E P/B (standalone) valuation. It is a unique play to benefit from the strong multi-year uptrend in both upstream and refining. The stock currently trades at a P/E multiple of 8.4x FY26E EPS and 6.4x FY26E EV/EBITDA. We value the stock at 8.5x FY26E standalone adj. EPS and add investments to arrive at our TP of INR775. Maintain BUY." However, Kotak Securities downgraded Oil India shares to sell from reduce but upgraded the target price to Rs 500 from Rs 475. Kotak downgraded Oil India shares due to increased optimism in Oil India's valuation.

LIC Stake In Oil India: Life Insurance Corporation Of India (LIC) has 8.04% stake in Oil India with 87,156,697 shares of the company. Oil India Share Performance & Return: 

Oil India shares offered shareholders return of 86% year-to-date, rose 84% in 6-months, achieved an attractive rally of 189% in last 1-year, offered return of 201% in last 2-years, and zoomed 349% in last 3-years. The 52-week high price of Oil India share on BSE is Rs 711.45 apiece (as on 24/06/2024) and 52-week low price is Rs 241.15 per share (as on 28/06/2023), respectively.

Oil India Dividend: The May 20 BSE filing also added, "It is further informed that the Board has recommended a final dividend of Rs. 3.75 per equity share having face value of Rs. 10/- each (pre-bonus), which translates into final dividend of Rs. 2.50 per equity share having face value of Rs. 10/- each (post-bonus) for financial year 2023-24, subject to the approval of the shareholders of the Company. The final dividend would be paid within 30 days from the date of declaration at the AGM. The final dividend is in addition to the Interim Dividend of Rs. 3.50/- (pre-bonus) and second Interim Dividend of Rs. 8.50/- (pre-bonus) paid for the financial year 2023-24. 


How To Be Eligible For Oil India Bonus Share & Dividend? Shareholders who hold Oil India's shares before the ex-date and record date will be eligible to get bonus shares and dividend. Eligibility for bonus shares and dividend depend on record date and ex-date. The record date is the cut-off date that the company fixes. Oil India fixed July 2 as the record date for bonus issue and yet to announce record date for dividend. 


Oil India Ltd Q4: Oil India announced its revenue from operations zoomed 16% to Rs 10,166 crore from the year-ago period. EBITDA of Oil India rose to Rs 3838 crore. Its crude oil earnings before interest and tax (EBIT) announced at Rs 1,744.75 crore, up 18% from the previous year. EBIT for the natural gas segment announced at Rs 687.34 crore as against Rs 823.55 crore in the previous year. Oil India declared it achieved its highest ever EBIDTA of Rs 11,643.30 crore for FY24. Its crude oil production in Q4 rose 6% from last year with an overall rally of 5.76% to 3.359 MMT in FY24, as against 3.176 MMT produced during FY23, according to Oil India's press release.


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