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Hold Oil and Natural Gas Corporation; target of Rs 150: ICICI Direct

ICICI Direct recommended hold rating on Oil and Natural Gas Corporation with a target price of Rs 150 in its research report date August 17, 2022.

August 18, 2022 / 06:24 PM IST
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ICICI Direct's research report on Oil and 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 also has a play on refining sector via its subsidiaries.


We change our rating on the stock from BUY to HOLD. We value ONGC at Rs 150 i.e. Rs 120 for core oil & gas business and Rs 30 for subsidiaries and other investments.


For all recommendations report, click here

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Oil & Natural Gas Corporation - 170822 - ic

Broker Research
first published: Aug 18, 2022 06:24 pm
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