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Hold Oil and Natural Gas Corporation; target of Rs 185: ICICI Direct

ICICI Direct recommended hold rating on Oil and Natural Gas Corporation with a target price of Rs 185 in its research report dated October 06, 2021.

October 08, 2021 / 10:25 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 is also a play on the refining sector via its subsidiaries.


We value ONGC at Rs 185 i.e. Rs 161 for core oil & gas business and Rs 24 for subsidiaries and other investments.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

Broker Research
first published: Oct 8, 2021 10:25 pm

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