ONGC Share Price Today Jumps After Rating Upgrade: Is This Maharatna PSU Stock A Buy, Sell or Hold? TP

ONGC Share Price Today: Shares of Oil and Natural Gas Corporation Limited (ONGC) surged during Monday's intraday trading session after the Maharatna PSU stock received a rating upgrade from brokerage Motilal Oswal. Being a beneficiary of the government's multi-year focus on turning around the sector, ONGC has a strong outlook due to a combination of factors, including its inexpensive valuation, volume growth, and strong profit outlook.

ONGC share price was trading 0.97% higher at Rs 240.10 per share on BSE with a market capitalisation of Rs 3,02,304.11 crore at 10:20 am on Monday, July 6. The stock hit an intraday high mark of Rs 241.20 per share and an intraday low mark of Rs 236.95 per share.

ONGC Share Price Recommendation

For ONGC, there has been an increased focus on finding new reserves, monetising existing discoveries on a fast-track basis, and exploration and development efforts in the overseas assets. Due to a host of favourable factors, ONGC is poised for surge in volumes and can see a solid dividend yield, read Motilal Oswal report released on Monday.

"Our upgrade is premised upon a combination of inexpensive valuations, decent volume growth pick-up, and ONGC being a beneficiary of a multi-year government focus to turn around the sector. While a peace MOU has been reached in West Asia, according to forecasts by the US EIA," read Motilal Oswal report.

ONGC Share Price Target

The brokerage gave a 'Buy' rating to ONGC with a target price of Rs 288 per share. "We model ~2.6% volume growth overall (Oil: 1.6%, Gas: 3.7%) and value the standalone business at 6.5x Dec'27 EPS, investments at a 25% discount to CMP, and OVL stake at 0.5x FY25 BVPS to arrive at our TP of INR288," noted the brokerage in its report.

ONGC Share Price Trend

ONGC stock surged during Monday's trading session after opening on a decent note. The stock hit its 52-week high mark of Rs 307.50 per share on April 29, 2026. The stock dipped to its 52-week low mark of Rs 227.60 per share on June 30, 2026. The stock has a return on equity (ROE) of 10.06% and its share price value has declined 14.59% in three months.

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