ONGC shares: Buy Oil And Natural Gas Corporation, target price Rs 154: Yes Securities

Yes Securities has a buy call with a target price of Rs 154. The current market price of . is Rs 140.85.

Oil And Natural Gas Corporation Ltd., incorporated in 1993, is a large capitalization company (having a market capitalization of Rs 175935.20 Crore) operating in the oil and gas sector.

The main products/revenue segments of Oil And Natural Gas Corporation Ltd. include crude oil, natural gas, naphtha, ethane, propane, C2/C3 (ethane/propane), butane, other operating revenue, aviation jet fuel (ATF), HSD , Kerosene Oil, LSHS, Mineral Turpentine Oil (MTO), Others for the year ending March 31, 2022.


For the quarter ended 30-06-2022, the company reported consolidated total revenue of Rs 184,148.90 Crore, up 16.07% from last quarter, total revenue of Rs 158,648.42 Crore and up up 68.48% from the same quarter last year, total revenue of Rs 109,301.82 Crore. The company reported a net profit after tax of Rs 7545.69 Crore last quarter.

Investment rationale
Bouncing off its 2-year average and attempting to break out of a consolidation base, implying strength

Promoter/Fii Holdings
The promoters held 58.89% of the company’s capital as of September 30, 2022, while the FIIs held 9.97% and the DIIs 18.52%.

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