News Oil & Gas

ONGC stocks: Buy Oil And Natural Gas Corporation, target price Rs 154: Yes Securities

Yes Securities has buy call on with a target price of Rs 154. The current market price of . is Rs 140.85.

Oil And Natural Gas Corporation Ltd., incorporated in the year 1993, is a Large Cap company (having a market cap of Rs 175935.20 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.


For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 184148.90 Crore, up 16.07 % from last quarter Total Income of Rs 158648.42 Crore and up 68.48 % from last year same quarter Total Income of Rs 109301.82 Crore. Company reported net profit after tax of Rs 7545.69 Crore in latest quarter.

Investment Rationale
Bouncing off its 2-yearly mean and attempting to break out off a consolidation base, implying strength

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.

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