ICICI Securities Bets On This Maharatna Stock For Return Up To 38%, Target Time 1 Year

ICICI Securities has given a buy call to the Maharatna stock Oil and Natural Gas Corporation Ltd or ONGC with a target price of 185 and a potential gain of 38%. The analyst has given a time period of 1 year when the stock will reach the given target price. Check key takeaways below:

1. ONGC Stock Outlook

The current market price of ONGC is Rs 134 apiece with an intraday gain of 1.02%. The stock is currently trading at a discount of 30.93% from its 52-week high level. The 52-week high of ONGC is Rs 194 apiece and 52-week low is Rs 119 apiece, respectively.

2. ONGC Market Capitalisation

The company has a market capitalization of Rs 1,68,638.64 crore as of October 7, 2022.

3. ONGC 5 Years Return

The stock has fallen 23% in the last 5 years, gained 6% in the last 3 years, and fallen again 16% in the last 1 year. The stock has surged 8% in the last 3 months.

4. ONGC Latest Quarterly Results

The company for the quarter ended June 30, 2022 announced a consolidated total income of Rs 184,148.90 Crore, up 16.07% from last quarter total income of Rs 158,648.42 crore. It declared a net profit after tax at Rs 7,545 crore in the latest quarter.

5. ONGC About

Oil and Natural Gas Corporation Ltd is in the Crude Oil and Natural Gas sector. It was incorporated in the year 1956. Oil and Natural Gas Corporation Ltd also referred to as ONGC Ltd, is an Indian company owned and controlled by the government.

It is under the ownership of the Ministry of Petroleum & Natural Gas, Government of India. ONGC Ltd is largest oil and gas exploration and production company and produces around 70% of the country's crude oil and 84% of the entire natural gas produced in the country.

Disclaimer

The stock has been picked from the brokerage report of ICICI Securities. 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.