Buy Maharatna Large Cap Stock For 41% Upside, Target Price Rs 220: JM Financial

JM Financial has recommended investors to buy Maharatna status stock, Oil and Natural Gas Corporation Ltd with a target price of Rs 220 apiece. If you buy Oil and Natural Gas Corporation now, you can get potential 41% return soon.

If you buy ONGC shares now, you can also get dividend income too as the company declared an interim dividend of Rs 4.00 per share on Feb 9 with record date of Feb 24, 2023. Check key details below:

1. ONGC Stock Performance

Current market price of ONGC is Rs 156.00 apiece. The shares of ONGC rallied 5.76% in trade today. The stock's 52-week high is Rs 194.60 apiece and 52-week low is Rs 119.80 apiece, respectively. The large cap company has a market capitalisation of Rs 1,96,378.16 crore.

2. ONGC Return & Financial Outlook

The stock gave a return of 5% in last 1-month, 8% in last 3-months, and declined 8% in last 1-year. In last 3-years, shares of ONGC gave a return of 50% to shareholders. The stock fell 17% in last 5-years.

The company for the quarter ended December 31, 2022 declared a consolidated total income of Rs 171,041.32 crore, up 0.3% from last quarter total income of Rs 170,984.28 crore. The company declared a net profit after tax at Rs 10,682.03 crore in latest quarter.

3. ONGC About

Maharatna ONGC is the largest crude oil and natural gas Company in India, contributing around 71 per cent to Indian domestic production. Crude oil is the raw material used by downstream companies like IOC, BPCL, HPCL and MRPL (Last two are subsidiaries of ONGC) to produce petroleum products like Petrol, Diesel, Kerosene, Naphtha, and Cooking Gas LPG.

ONGC has a unique distinction of being a company with in-house service capabilities in all areas of Exploration and Production of oil & gas and related oil-field services.

Disclaimer

The stock has been picked from the brokerage report of JM Financial. 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 check with certified experts before taking any investment decision.