Shares of Oil and Natural Gas Corporation (ONGC) gained 3.6 percent intraday Tuesday as JPMorgan maintained overweight rating on the stock with a target of Rs 265 per share.
The company is moving on towards the next stage of re-structuring. The stock pricing in large subsidy/oil cess and have not seen any increase in oil cess, said JPMorgan.
The forecasts are based on USD 60 per barrel crude price and USD-INR of 65.50, it added.
At 11:25 hrs Oil and Natural Gas Corporation was quoting at Rs 159.70, up Rs 3.85, or 2.47 percent on the BSE.
The share touched its 52-week high Rs 212.90 and 52-week low Rs 152.45 on 25 January, 2018 and 28 June, 2018, respectively.
Currently, it is trading 24.99 percent below its 52-week high and 4.76 percent above its 52-week low.
Posted by Rakesh PatilDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
