119% Return in 1 Year: IOC shares jump over 2% - Check Target Price

IOC Share Price Target, Indian Oil Corporation: Shares of Indian Oil Corporation (IOC) jumped over 2 per cent as domestic equity benchmarks climbed in early trade on Monday, with the Sensex and Nifty reaching record highs. The stock opened at Rs 169.30 and surged 2.26 per cent to touch the day's high of Rs 171.8 on the BSE. The counter had closed at Rs 168 in the last trading session.

IOC Share Price Target

According to Zee Business panellist Sumeet Bagadia, the upward trend is expected in oil marketing companies this week and shares of IOC will also gain. It is pertinent to mention that the stock has gained after 3 days of consecutive fall.

"There is a good momentum in IOC and it is right to buy the stock and those who already have it must hold," Bagadia said.

IOC Share Price Target - 176/180

IOC Stop Loss - 166

Bagadia said these targets are for the short term and the stock has the potential to cross the positional target of Rs 200.

IOC Share Price History

The shares of the state-run oil company have given a multibagger return of over 199 per cent in the last year. In the last three years, the stock has made investors wealthier by over 175 per cent.

IOC Dividend History

The company announced an interim dividend of Rs 5 in November 2023. Earlier to that, it pai final dividend of Rs 3. Here's the history of dividends paid by the Indian Oil Corporation.

Meanwhile, the 30-share BSE Sensex jumped 307.22 points to reach a record high of 74,555.44 in early trade. The NSE Nifty climbed 79.6 points to 22,593.30.

Later, the Nifty climbed to its new all-time peak of 22,623.90 and the BSE benchmark scaled a fresh lifetime high of 74,658.95.