Hold IOC With Stop Loss Of Rs 335
Technical analyst Prakash Gaba has maintained 'hold' rating on Indian Oil Corporation Limited stock with a target of Rs 380-390.
According to analyst, the investors can hold the stock with a stop loss of Rs 335.
The stock of the company, on May 03, closed at Rs 341.95 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 458.90 and a low of Rs 298 on BSE.
Current EPS & P/E ratio stood at 37.47 and 9.31 respectively.
Praveen Kumar Goyal has been appointed as Director (Finance) of Indian Oil Corp , country's biggest oil company.
The company said, "Prior to his elevation to the Board of Directors, he was Executive Director (International Trade, Information Systems and Optimisation) at IOC's corporate office."
Mr. Goyal puts back S V Narasimhan, who retired on April 30.
Mr. Praveen has more than 30 years of experience in IOC and has addressed the complete range of activities in the Finance function.
"A Chartered Accountant, Goyal has shouldered wide- ranging responsibilities that include treasury operations of size exceeding USD 80 billion, policy formulation and statutory compliances as well as appraisal of projects beyond Rs 100 crore," the company addded.
Mr. Praveen had formerly held board-level ranks in IOC's arms like Chennai Petroleum Corp Ltd, Lanka IOC, IOT Infrastructure & Energy Services Ltd and erstwhile Bongaigaon Refinery & Petrochemicals Ltd.