Indian Oil Corporation Buyback: Acceptance ratio to lie between 30% to 40%.; Buy

Jainam Research | Dec. 14, 2018, 11:55 a.m.

Outlook

We at Jainam Share Consultants Pvt. Ltd. recommend retail investors to “Buy" Indian Oil Corporation Ltd. at Rs.141.55 and “participate” in Buyback. In the case of acceptance ratio from 30% to 100%, there will be a high probability of positive returns from 0.64% to 9.24%, due to dividend of Rs.6.75 accounting for dividend yield of 4.76%. Due to the participation of several existing and new investors in this buyback opportunity, we expect the acceptance ratio to lie between 30% to 40%.



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