3 Oil & Gas Sector Stocks To Buy As Suggested By Emkay Global For Up To 30% Gains

Emkay Global maintains a positive view on Oil And Natural Gas Corporation Ltd. (ONGC), Oil India Ltd. (OIL), and Indraprastha Gas Ltd. (IGL), as Kirit Parikh panel's recommendations offer a steady price for upstream, while also balancing CNG & domestic PNG economics for CGD players.

In the report, Emkay Global stated, "Media reports have quoted petroleum minister Mr Puri saying that the MOPNG will seek Cabinet approval very soon on the Kirit Parikh Committee's recommendations on natural gas pricing. A few weeks ago, it was reported that inter-ministerial consultations (barring the Finance Ministry) had been completed and a draft cabinet note was being prepared by the MOPNG to be sent to the PMO and Cabinet Secretariat soon, with no major changes to the recos."

Here are key details of the stocks:

1. Oil And Natural Gas Corporation Ltd. (ONGC)

Emkay Global has estimated a Target Price of Rs 200/share for the stock of ONGC. It sees a potential upside of up to 30% from its current level. The stock is currently trading at Rs 154.35/share, up 1.41% from the previous close.

The stock has fallen 0.83% in 1 week, and 1.34% in 1 month, respectively. It gained 4.96% in 3 months. It has fallen 9.28% in 1 year. In the past 3 years, it has given 157.5% positive return. Whereas, in 5 years it declined by 12.79%.

2. Oil India Ltd. (OIL)

The brokerage has estimated a Target Price of Rs 290/share for the stock of OIL. If you buy the stock at the current market price, it can fetch up to 16% gains. The stock is currently trading at Rs 251.25/share, up 0.70% from the previous close.

The stock has fallen 3.78% in 1 week, and 3.95% in 1 month, respectively. However, it gained 16.76% in 3 months. It gained 13.92% in 1 year, 250.1% in 3 years, and 11.42% in 5 years, respectively.

3. Indraprastha Gas Ltd. (IGL)

The brokerage has estimated a Target Price of Rs 485/share for the stock of IGL. Given the target price, it can fetch up to 12% gains if purchased at the current market price. The stock is currently trading at Rs 433.65/share, up 1.44% from its previous close.

The stock has fallen 2.29% in 1 week. The stock has given 0.35% positive return in 1 month and 0.98% in 3 months, respectively. It gave a positive return of 10.66% in 1 year, 14.93% in 3 years, and 46.44% in 5 years, respectively.

Disclaimer

The stocks have been picked from the brokerage report of Emkay Global. Greynium Information Technologies, the Author, and the respective Brokerage house are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to consult with certified experts before making any investment decision.