Brent at $124/bbl: Oil India hits over 7-year high; zooms 114% in one year

Oil India is well placed to benefit from rising oil and gas prices and high gross refining margins, analysts said.

The stock of Oil India hit an over seven-year high of Rs 302.80 as it rallied 8 per cent on the BSE in Thursday’s intra-day trade, on the back of strong outlook based on increase in crude price and domestic gas price realisations. In comparison, at 10:37 am, the S&P BSE Sensex was flat.

The share of the state-owned oil exploration & production was quoting at its highest level since November 2014. It had hit a record high of Rs 334 on September 9, 2014. In the past one year, the stock has zoomed 114 per cent, as compared