400% return in 2 years: Global brokerage firm raises target for THIS Maharatna PSU stock by 33% | Know Details

Maharatna PSU Stocks to Buy: Global brokerage firm Morgan Stanley is highly bullish on the country's second-largest company in the oil and gas sector - Oil India. This Maharatna-status company has proven to be a multibagger stock. This week, it registered a gain of 26 per cent and closed at Rs 617. Over the past two years, it has delivered a remarkable return of 405 per cent.

Oil India Share Price Target

Morgan Stanley has upgraded its target for Oil India by 33 per cent, giving it an overweight rating. The new target price has been raised from Rs 497 to Rs 663. The brokerage expects the company's earnings to double in the next four years, with operating profit anticipated to grow at a robust rate of 14 per cent. Consequently, earnings per share (EPS) are expected to increase by 10-20 per cent.

Tremendous Jump in the Performance of Oil India

Oil India is Asia's most profitable refinery. Over the past four years, the company's profit has tripled. This week, the stock rose during all five consecutive trading sessions, increasing from Rs 490 to Rs 595. Given this significant rise, new investors might want to wait for a market correction.

Oil India Share Price History

Oil India is a multibagger stock. The stock closed at Rs 617 and reached a new all-time high of Rs 652. It has delivered a return of 26 per cent this week, 28 per cent in two weeks, 40 per cent in one month, 51 per cent in three months, 145 per cent in six months, 260 per cent in one year, and 405 per cent in two years.

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