Indian Oil Corpn: *TP 400 Feb Expiry*

Recently Govt of India has demanded 5000cr Dividend from IOC. Immediately, analyst/ brokerage world translated it into Rs 10.30/ share Div ( and that yield only 3%) as equity 4856cr.

However, ALL are 100% wrong

_Govt of India owns only 58% of IOC and not 100%_

In order for Govt to get 5000 cr on its 58% stake, *IOC will have to declare minimum/roughly Rs 9000 cr Dividend which means Rs 19/share and Div yield will be massive 6%*

_For Q3, we estimate PAT to rise 100% YoY as well as QoQ_

We feel FY17 total Dividend could be as high as Rs 25/share

Technically also, IOC set to touch 400.

Fundamentally, stock trading at 7xFY17Eeps is definitely underpriced ( global peers trade at 11-12 times)

For long term Investors, this Fortune 500 co ( amongst biggest refineries in the world), stock can be in 4 digit in 24 months
Stay tuned for more revealing updates to know REAL worth of IOC