Oil India shares rise on strong Q3 results

 Shares of Oil India rise as much as 2.9 pct to 365.5 rupees. Q3 profit jumped 55 pct to 7.05 bln rupees ($109.70 mln), beating analysts' average estimate of 6.88 bln rupees.

Deutsche Bank analysts reiterate 'buy' rating on expectations of higher oil net realization driven by rise in global oil prices; PT of 455 rupees.

Analysts at Jefferies maintain 'buy' rating with PT of 465 rupees, on account of Oil India's good qtr, with EBITDA up 27 pct q-o-q.

13 of 26 brokerages rate the stock "buy" or higher, eight "hold" and five "sell" or lower; their median PT is 384.50 rupee.