News Oil & Gas

Oil And Natural Gas Corporation stocks: Buy Oil And Natural Gas Corporation, target price Rs 195: Emkay Global


Emkay Global has buy call on Oil And Natural Gas Corporation with a target price of Rs 195. The current market price of is Rs 138.45.
., incorporated in the year 1993, is a Large Cap company (having a market cap of Rs 173985.26 Crore) operating in Gas & Petroleum sector.

Oil And Natural Gas Corporation Ltd. key Products/Revenue Segments include Oil Crude, Gas Natural, Naphtha, Ethane, Propane, C2/C3 (Ethane/Propane), Butane, Other Operating Revenue, Aviation Turbine Fuel (ATF), HSD, Superior Kerosene Oil, LSHS, Mineral Turpentine Oil (MTO), Others for the year ending 31-Mar-2022.

Financials

For the quarter ended 30-09-2022, the company reported a Consolidated Total Income of Rs 170984.28 Crore, down -7.15 % from last quarter Total Income of Rs 184148.90 Crore and up 38.51 % from last year same quarter Total Income of Rs 123444.95 Crore. Company reported net profit after tax of Rs 7291.30 Crore in latest quarter.

Investment Rationale
The brokerage values

on a DCF-based SOTP, comprising SA, KG 98/2, OVL and OPaL. Investments are valued at TP or CMP, with a 30% holdco discount. Key risks: Adverse oil-gas prices, policy issues, cost overruns and dry holes.

Promoter/FII Holdings
Promoters held 58.89 per cent stake in the company as of 30-Sep-2022, while FIIs owned 9.97 per cent, DIIs 18.52 per cent.

(Disclaimer: Recommendations given in this section or any reports attached herein are authored by an external party. Views expressed are that of the respective authors/entities. These do not represent the views of Economic Times (ET). ET does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same. Please consult your financial adviser and seek independent advice.



Source link