ICICI Direct's research report on Oil & Natural Gas Corporation
Oil & Natural Gas Corporation (ONGC) is primarily engaged in exploration, development and production of crude oil and natural gas. ONGC’s crude oil production has been in the range of 54-63% of total domestic oil production in FY11-21 ONGC is also a play on the refining sector via its subsidiaries
Outlook
We retain our HOLD rating on the stock We value ONGC at Rs 110 i.e. Rs 90 for core oil & gas business and Rs 20 for subsidiaries and other investments.
For all recommendations report, click here
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