President of India-backed low PE & high ROE multibagger stock; Board likely to announce bonus shares!

The stock gave multibagger returns of 145 per cent in just 1 year and a whopping 400 per cent in 3 years.

Oil India Ltd, a central public sector undertaking, is a major player in India's oil and gas industry. They focus on activities across the entire oil and gas production chain, including exploration, development, and production of crude oil and natural gas. They also handle the transportation of crude oil, production of liquefied petroleum gas (LPG), and even offer related services for oil blocks. Notably, the company was recently accorded "Maharatna" status in recognition of its significant contributions.

Oil India Ltd. has scheduled a board meeting on Monday, May 20th, 2024. During the meeting, the board will review and approve the company's audited financial results for the quarter and year ended March 31st, 2024, on both a standalone and consolidated basis. Additionally, the board will recommend a final dividend for the financial year 2023-24, if applicable. The board of directors may also consider a proposal for issuing bonus shares at this meeting. 

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Today, shares of Oil India Ltd zoomed 0.74 per cent to Rs 637.55 per share from its previous closing of Rs 632.95 with an intraday high of Rs 663 and an intraday low of Rs 631.80. The stock’s 52-week high is Rs 669.05 and its 52-week low is Rs 240.65.

The company has a market cap of Rs 69.135 crore and has delivered good profit growth of 26.1 per cent CAGR over the last 5 years. The stock has a PE of 10x whereas the sectoral PE is 16x with ROE and ROCE of 26 per cent each.

The President of India owns the majority of the stake in the company i.e., 56.66 per cent. The stock gave multibagger returns of 145 per cent in just 1 year and a whopping 400 per cent in 3 years. Investors should keep an eye on this Mid-Cap stock.  

Disclaimer: The article is for informational purposes only and not investment advice.