Having witnessed major drawdowns this week, Oil India shares are once again in focus heading into trade on Friday, after Morgan Stanley predicted the stock to show further weakness in the next month.
In its latest note, Morgan Stanley believes Oil India share price will fall in absolute terms over the next 30 days. The brokerage firm has flagged four key concerns, stating that recent royalty rate changes are expected to have a 5% impact on Oil India's earnings.
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
Gas average selling price increases are likely to underperform Street estimates. Fuel refining profitability is set to drop by almost half as the impact of tax benefits unwinds. The brokerage also cited headwinds from slower-than-expected pipeline network expansion as an additional drag.
Within the upstream oil and gas segment, Morgan Stanley said it prefers ONGC over Oil India.
The note comes after a volatile week for the stock. Oil India shares retreated nearly 10% on Wednesday before recovering approximately half a percent on Thursday.
The stock remains under pressure amid broader concerns over the upstream sector's earnings trajectory, compounded by the West Asia conflict's impact on global energy markets.
ALSO READ:
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.