ICICI Direct recommended hold rating on Oil and Natural Gas Corporation with a target price of Rs 110 in its research report dated February 17, 2020.
ICICI Direct recommended hold rating on Oil and Natural Gas Corporation with a target price of Rs 130 in its research report dated dated November 15, 2019.
CCUS is known to be a very effective method of EOR globally and is playing an increasingly important role in achieving the mission of carbon neutrality
Net profit in January-March at Rs 4,045 crore was 31.6 per cent lower than net profit of Rs 5,915 crore in the same period of the previous fiscal year, the company said in a statement.
India produced 34.2 million tonne of crude oil in the fiscal year ended March 31, down from 35.7 million tonne in the previous year, according to data released by the Ministry of Petroleum and Natural Gas here.
ONGC won back five out of the 23 discovered oil and gas fields that the government took away from the state-owned firm and Oil India Ltd (OIL) for auctioning in the second round of discovered small field (DSF).
ONGC's profit stood at Rs 82.63 billion ($1.16 billion) in the quarter ended December 31, compared with Rs 50.15 billion a year earlier, the oil and gas explorer said in a stock exchange filing.
According to Antique Stock Broking, the net crude realisation for ONGC in Q3FY19 is estimated at around $67-68 a barrel (versus $73-76 in Q2FY19 and around $50-61 in Q3FY18)
The Government of India held 67.48 percent shareholding in ONGC as of September 2018.
The nation's largest oil and natural gas producer is keen that its recent diversification into refining business as also petrochemicals is leveraged to full by integrating them with its core business.
The government does not want to cut excise duty and is looking at alternative means to reduce petrol and diesel prices.
"Nifty has strong support at 10,689 levels, a break out will take it to 10,630. On the upper side, the index will face a hurdle at 10,785 levels. A crossover will take it to 10,825 levels," says a report by Equity99
The petroleum ministry plans to offer 60 percent participating interest to private players in 11 oil fields operated by ONGC and 4 of Oil India.
Ashwani Gujral of ashwanigujral.com
Mitessh Thakkar of mitesshthakkar.com is of the view that one may buy ONGC and JSW Steel and sell Granules India, Sun TV and Wockhardt.
Most broking house kept buy rating on the stock, as they expects the gas production will increase going ahead and domestic gas prices will move up from 2HFY18.
Rajat Bose of rajatkbose.com is of the view that one can buy Reliance Infrastructure and sell Oil and Natural Gas Corporation and GAIL India.
Ashwani Gujral of ashwanigujral.com recommends buying Reliance Infra, Reliance Defence and Rain Industries.
Gaurav Bissa of LKP securities is of the view that one can buy Bank of India and Just Dial and sell ONGC.
Sudarshan Sukhani of s2analytics.com is of the view that one can buy Kotak Mahindra Bank, Bajaj Auto, Gujarat State Petronet and Sharda Cropchem and can sell SAIL.
Ashwani Gujral of ashwanigujral.com is of the view that one can buy L&T Finance Holdings and Oil and Natural Gas Corporation and sell Muthoot Finance.
Prasad of Kotak Institutional Equities also felt NBFCs could see some pressure as banks will look to capture retail customers. He prefers Aurobindo Pharma and IOC as valuations look reasonable and cheaper than peers.
Puducherry Chief Minister V Narayanasamy today announced that public sector undertaking, Oil and Natural Gas Corporation (ONGC) will earmark Rs 60 crores for the renovation of government schools and government hospital in Karaikal, under its CSR scheme.