Oil India's Earnings Seen Weighed by Lower Sales, Crude-Oil Prices — Market Talk
DDow Jones
Oil India faces an earnings hit from likely lower sales volumes and crude-oil prices, Nomura analyst Bineet Banka says, noting that the company's standalone Ebitda fell 3.2% on-quarter in 1Q FY 2026, due to these factors. Nomura cuts its FY 2026 and FY 2027 profit forecasts for the oil and gas company by 19% and 24%, respectively. First, it lowers sales volume projections by 7%-8%. Second, it reduces average selling price assumption for oil to $70/bbl from $75/bbl previously. Nomura lowers the stock's target to INR430.00 from INR460.00 with an unchanged neutral rating. Shares are 1.6% lower at INR400.40. (ronnie.harui@wsj.com)