PSU Stocks To Buy: Motilal Oswal Lists Top 4 PSU Stocks Showing Potential To Soar

Motilal Oswal has recommended investors to buy 4 public sector undertakings that can fetch attractive returns. These 4 PSUs are Coal India, Gujarat State Petronet, Gujarat Gas, and Oil And Natural Gas Corporation. Some of these PSUs have already offered multibagger returns to investors. Check details pertaining to these stocks below:

1. Buy Coal India Shares: The analyst has recommended investors to buy Coal India shares with target price of Rs 520 apiece. Current market price of Coal India shares on BSE is Rs 443.80 apiece with intraday fall of 0.36%. Coal India shares gained 92% in last 6-months and soared 180% in last 2-years. Coal India declared 5.25 per share dividend in Q3 and Coal India shares traded ex-dividend on February 20, 2024. If you buy Coal India stock now at last trading price of Rs 443.80 apiece, you can fetch likely upside of 17.17%.

CIL is a Maharatna company

2. Buy Gujarat State Petronet Shares: Motilal Oswal has listed Gujarat State Petronet shares in buy category. The analyst has recommended investors to buy Gujarat State Petronet shares with target price of Rs 450 apiece. Last trading price of Gujarat State Petronet shares on BSE is Rs 370.75 apiece with intraday gain of 0.95%. Gujarat State Petronet shares gave return of 34% in last 3-months, rose 33% in last 6-months, and jumped 37% in last 1-year. In last 5-years, Gujarat State Petronet stock zoomed 134%.

If you buy GSPL shares at last trading price of Rs 370.75 apiece, you can fetch potential gain of 21.38%.
Gujarat State Petronet is engaged in transmission of natural gas through pipeline on an open access basis from supply points to demand centers.

3. Buy ONGC Shares: Last trading price of Oil and Natural Gas Corporation Ltd shares on BSE is Rs 272.00 apiece. Motilal Oswal has assigned buy call to ONGC shares with target price of Rs 315 apiece. If you buy Oil and Natural Gas Corporation shares at last trading price of Rs 272.00 apiece, you can get likely gain of 15.81%. Oil and Natural Gas Corporation shares zoomed 54% in last 6-months, gained 76% in last 1-year, and offered return of 142% in last 3-years. ONGC declared an interim dividend of Rs 4.00 apiece and ex-dividend date was February 16, 2024.

Recently, Board of Directors of ONGC in their meeting held on Feb 20, inter-alia, considered and accorded in-principle approval for the Formation of Joint Venture for setting-up of Compressed Bio Gas (CBG) Plants.
Maharatna ONGC is the largest crude oil and natural gas Company in India, contributing around 71 per cent to Indian domestic production. The PSU announced a fall of 8% in its consolidated net profit at Rs 10,748 crore for the quarter ended December 2023. It declared a 2.2% decline in its revenue from operations for the quarter under review at Rs 1,65,569 crore as against Rs 1,69,213 crore in the corresponding quarter of last year.

4. Buy Gujarat Gas Shares: Last trading price of Gujarat Gas shares on BSE is Rs 577.20 apiece with intraday gain of 2.28%. Gujarat Gas shares soared 19% year-to-date, rallied 27% in last 6-months, and offered return of 15% in last 1-year. Motilal Oswal has assigned buy call to Gujarat Gas shares with target price of Rs 675 apiece. If you buy Gujarat Gas stock at last trading price of Rs 577.20 apiece, you can fetch likely return of 16.94%.
Gujarat Gas Limited (GGL) is India's largest City Gas Distribution (CGD) Company in terms of sales volume.

Disclaimer:

The stocks have been picked from the brokerage report of Motilal Oswal. 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.