IOC share price: Shares of public sector undertaking (PSU), Indian Oil Corporation Limited (IOC), traded with a mild cut ahead of the Q1 results announcement for the financial year 2025-26 (FY26).
The Maharatna PSU stock declined over 1% to hit the day’s low of ₹140.75 on the BSE. IOC share price opened marginally higher than the last closing price at ₹142.55 apiece. But it soon erased gains and traded marginally lower.
The fall came despite expectations of a sharp surge in IOC’s Q1 profit.
IOC Q1 results preview
Domestic brokerages see up to 275% despite a decline in net sales on a year-on-year (YoY) basis.
IOC’s EBITDA is expected to grow significantly compared to last year and last quarter. However, its profit margin from refining (GRM) may go down this quarter because it benefited from some unusual gains earlier that won’t happen again.
Brokerage Kotak Institutional Equities expects IOC‘s Q1 FY26 PAT to grow 276% YoY to ₹9944.4 crore, compared with ₹2643.2 crore posted in the corresponding quarter a year ago. Meanwhile, the figure could grow 37% quarter-on-quarter (QoQ).
Net sales could decline 6.2% YoY and 7% QoQ to ₹1,81,324.7 crore during the quarter under review.
The brokerage said that although oil prices dropped 11-12% QoQ in this quarter, the government’s increase in fuel taxes had only a small effect. The rise in domestic LPG prices helped balance things out, it added.
Meanwhile, Emkay Global sees a 159% YoY rise in IOC’s Q1 profit to ₹6852.1 crore while it expects sales to decline by 10% to ₹173,897.5 crore during the said period.
It expects core GRM of $7.5/bbl and reported GRM of $5.0/bbl, with blended marketing margin at ₹8.9/kg, up from ₹6.3/kg in Q4. The total sales volume could rise to 3% YoY to 26.1 MMT.
IOC shares: How to trade PSU stock?
According to Anshul Jain, Head of Research, Lakshmishree Investment, post a 143-day cup-and-handle breakout, IOC stock is retesting its base breakout and currently trading slightly below the breakout neckline.
“The earlier move to the upside was supported by higher volumes, while the present pullback is unfolding on lower volumes — a classic sign of a healthy bullish retracement. This pattern suggests that selling pressure is limited and that buyers may soon regain control,” said Jain.
The 135–140 zone presents a strong accumulation opportunity for positional longs, with the potential for an upside move toward 171.65 in the coming weeks, he advised.
Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
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