ONGC share worth information, ONGC goal: Shares of the upstream oil firm Oil and Pure Fuel Company (ONGC) in Friday’s commerce as international brokerage Jefferies has continued with its ‘purchase’ ranking on the inventory and a goal of Rs 375. The brand new set goal implies a possible upside of 55 per cent from the final shut.
From the all-time excessive of Rs 345 -marked on August 1, 2024, the inventory has tumbled as a lot as 30 per cent.
As per the US roadshow suggestions, the corporate expects realisation of 10-12 per cent manufacturing CAGR over FY26-30 on the again of progress on the Mumbai Excessive. Mumbai Excessive is the nation’s largest and most prolific oilfield alongside the west coast of Mumbai.
Moreover, BP’s success in Rumaila (40% manufacturing progress in an identical geological reservoir) anchors ONGC’s outlook. Moreover, reforms in fuel and crude pricing help FY25-27 EPS Cagr of 14 per cent.
Apart from, factoring in crude at $55 per bbl, the inventory enjoys a beneficial risk- reward ratio.
Additionally Learn: Shares to purchase for long run: Brokerages advocate shopping for largecap, midcap, smallcap
ONGC Q3FY25 outcomes
For the December quarter of FY25, the corporate’s web revenue slipped 17 per cent on-year to Rs 8,240 crore. Income from operations declined 3.08 per cent on-year to Rs 33,716.80 crore in Q3 FY25.
Whole bills declined 4.11 per cent to Rs 24,527.54 crore throughout the quarter in contrast with Rs 25,578.43 crore in Q3 FY24.
The corporate’s web crude oil realization was $72.57 per barrel (down 10.6 YoY) whereas fuel worth realization was $6.50 per mmtbu (flat YoY) throughout the interval below evaluate.
