Go Ad-Free
    My Alerts
    Moneycontrol
    Moneycontrol PRO
    HomeNewsBusinessStocksONGC can move to Rs 345-350: Atul Badkar

    ONGC can move to Rs 345-350: Atul Badkar

    Oil and Natural Gas Corporation (ONGC) can move to Rs 345-350, says Atul Badkar, VP - Institutional Equities - Derivatives Desk at Edelweiss Securities. If market were to correct a bit ONGC will be more like a defensive cum long hold in the portfolio, because the downside seems to be limited from here, he adds.

    May 15, 2013 / 10:52 IST
       
       
      26 Aug, 2025 12:21
      Volume
      Todays L/H
      More

      Atul Badkar, VP - Institutional Equities - Derivatives Desk at Edelweiss Securities told CNBC-TV18, "Within the entire oil and gas pack apart from Reliance Industries we believe that even ONGC has now moved into a new trajectory. For a long time it was sub-Rs 300 and now we are seeing this entire consolidation between Rs 300-325. It even went higher then it sort of drew back a bit. However, technically we feel that if markets were to consolidate from these levels and even within the sector ONGC is very likely to go back to Rs 345-350 levels."


      He further added, "I think even fundamentally we have been quite bullish on the stock. Even earlier on clients seemed to be talking about this stock particularly in the oil and gas pack. So from Rs 326 if market were to correct a bit ONGC will be more like a defensive cum long hold in the portfolio, because the downside seems to be limited from here, but the upside will be a quick 4 or 5 percent."

      first published: May 15, 2013 10:52 am

      Discover 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!

      Subscribe to Tech Newsletters

      • On Saturdays

        Find the best of Al News in one place, specially curated for you every weekend.

      • Daily-Weekdays

        Stay on top of the latest tech trends and biggest startup news.

      Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347