IOCL
IOCL currently trades at 0.8x 1-year fwd. P/B, below its 10-year average. We reiterate our Neutral rating on the stock with an SoTP-based valuation of INR150.
Ratings and target prices as published by each firm. Each summary condenses that firm's stated view in its own note and is attributed to it; no report text is reproduced.
