Oil India Shares Jump 6.5% After Profit Surges 253%

Oil India Ltd shares rose 6.53 per cent to a high of Rs 483.95 on Tuesday following the announcement of strong first-quarter earnings for the fiscal year 2027. The state-owned company reported a standalone profit after tax of Rs 2,900 crore, representing a 253 per cent year-on-year increase, while consolidated profit nearly doubled to Rs 4,000 crore.

Growth was driven by higher production and sales volumes, improved crude realisation of approximately $99 per barrel, and strong refining margins at Numaligarh Refinery Ltd.

Financial analysts provided diverging outlooks on the company's future performance. Elara Capital maintained a 'Buy' rating with a target price of Rs 672, citing potential production upside for FY27. Conversely, Motilal Oswal Financial Services Ltd reiterated a 'Neutral' rating with a target price of Rs 485.