Oil India share price jumped over 6% on Tuesday, extending its rally for the second consecutive trading session, lifted by strong buying interest. The PSU stock surged as much as 6.52% to Rs 483.95 apiece on the BSE.
The rally in Oil India share price today was supported by strong trading volumes. Around 57 lakh equity shares of Oil India changed hands on August 11, as compared to its one month average trading volume of 37 lakh shares.
In two sessions, Oil India stock price has surged more than 9%, boosted by renewed buying interest after strong June quarter performance.
Here's a look at Oil India Q1 results:
Oil India Q1 Results 2026
Oil India reported a 72.9% jump in its consolidated net profit to Rs 3,630 crore in the quarter ended June 2026, compared with Rs 2,100 crore in the March quarter.
The company's revenue from operations in Q1FY27 grew 34.5% to Rs 12,503 crore, from Rs 9,293 crore, quarter-on-quarter (QoQ).
Operational performance also improved sequentially, as the earnings before interest, taxes, depreciation and amortisation (EBITDA) surged 76.6% to Rs 5,793 crore from Rs 3,281 crore, and EBITDA margin expanded to 46.3% from 35.3%, QoQ.
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The company's oil production increased 11% YoY to 0.95 mmt, while gas production declined 8% YoY to 0.76 bcm. Oil realization was $98.7 per barrel.
Brokerage firm Motilal Oswal Financial Services noted that over the past few quarters, Oil India has struggled to ramp up production and sales, with limited YoY growth. While the brokerage firm likes the increased exploration intensity, it believes this is likely to be accompanied by higher dry-well write-offs, which could weigh on earnings.
Oil India aims to drill 100 wells by FY27. This will be the highest number of wells drilled annually in the history of Oil India. The NRL refinery segment is expected to achieve 75% capacity utilization by FY28-end.
“The benefits of a higher proportion of gas from new wells are likely to be largely offset by subdued gas realizations amid a weaker crude oil price outlook,” said Motilal Oswal.
The brokerage firm maintained its ‘Neutral' rating on Oil India shares and raised the target price to Rs 485 apiece, as it models a 5.4% and 8.1% CAGR for oil and gas production volumes over FY26-28.
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Technical Outlook
Oil India share price had been consolidating in the Rs 465 – Rs 435 range since 20th July before breaking out of the range and moving above its upper band.
“The rise in crude oil prices generally benefits upstream oil companies like Oil India, providing a favourable backdrop for the stock. The RSI, which had failed to move past the 60 mark on two earlier occasions, has now broken above this level, indicating a pickup in bullish momentum,” said Sudeep Shah - Head of Technical and Derivatives Research at SBI Securities.
Additionally, the DI lines have also widened, with DI+ placed well above DI-, signalling strong control of buyers, he added.
According to Shah, as long as Oil India stock price sustains above the 460 – Rs 455 zone, the current pullback is likely to extend further.
Oil India Share Price Performance
Oil India share price has risen 12% in one month and has gained just 4% in three months. However, the PSU stock has delivered multibagger returns of 156% in three years, and 336% over the past five years.
At 10:55 AM, Oil India share price was trading 4.60% higher at Rs 475.20 apiece on the BSE.
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