Looking for a multibagger? This PSU oil & gas stock holds promise
NEW DELHI: Oil India NSE 1.02 %’s June quarter results beat analysts’ estimates, with oil & gas production improving after four quarters of weakness.
The state-run PSU’s acquisition of a controlling stake in Numaligarh Refinery (NRL) and the hope of an increase in oil production have resulted in a revision in its earning estimates, say analysts, some of whom see the stock almost doubling.
