Psu stock to buy: The stock of the Maharatna company ONGC of the Oil and Gas Sector may see further action. After the results of the December quarter (Q3Fy25), Brokerage House Motilal Oswal and Antic Stock Broking ONGC are bulls. He has given up to 35 per cent target of upset up to 35 per cent on this PSU stock. On Tuesday (February 4), the stock got more than 2 per cent. Brokerage believes that the volume growth of the company will be monitored further.
ONGC: Target of upset up to 35 percent
Brokerage firm Antic Stock Broking has maintained a purchase advice on ONGC. Also, the target price has been revised to Rs 336 per share. Earlier it was 368. In this way, the stock can show 35% upside from the current price.
Brokerage says that ONGC results were better than our estimates. ONGC recorded a revenue of Rs 33,700 crore (QOQ -1%, YOY -3%), which is 7% and 5% higher than our and Bloomberg’s estimate. The company’s standalone working profits (Ebitda) were Rs 18,970 crore (QOQ +4%, Yoy +11%).
Brokerage has retained the USD 75/BBL and USD 70/BBL for the permission FY26/27 of the oil price respectively. Also, there are 11% -12% cut in production estimates. This is because there is a delay in reaching the peak of gas production in the KG basin. Also, EPS of FY26/27 (shares on the Eunings) has been cut by 13%.
Brokerage House Motilal Oswal has targeted Rs 305 per share with a BUY rating on OnAGC. In this way, the stock may show up 22 per cent in the coming days.
Brokerage says the valuations of stock are expensive. Volume is focus on growth. During the FY25-FY27, ONGC has given a guidance of 3.4 per cent CAGR in the production volume. The company believes that the KG 98/2 basin will support the growing production, upset development from the repression project and the support of monties of stuck gas reserves.
The brokerage firm said that the ONGC is currently trading on 2.7x FY26E EV/Ebitda (Standalone) and 7.1x FY26e P/E (Standalone). Motilal Oswal valued the company on 7X Dec’26E adjustable EPS (INR 29) and includes the value of investments, on the basis of which a target of Rs 305.
ONGC: Good recovery seen in shares
ONGC shares saw a good rise in early trade on Tuesday. The stock started at Rs 253 at Rs 253 with the stock. The stock jumped 3.4 Fasidi in the business session at 1 pm.
This PSU Stock is trading below 28 percent from its 52 -week high. The 52 weeks of stock on BSE is high 344.60 and low 227 rupees. The company’s market cap is more than Rs 3.22 lakh crore.
On BSE
ONGC: How to be Q3 results
The net profit of Maharatna PSU ONGC fell 19.4 per cent to Rs 8,621.69 crore in the third quarter (October-December) of FY 2024-25. The profit was Rs 10,703.13 crore in the same quarter last year. The main reason for this decline was the decrease in crude oil prices. On the quarter -rate quarter, the profit also declined by 16.07%, which was ₹ 10,272 crore in the previous quarter (Q2 FY25). However, the Gross Revenue of the company fell 0.7% to ₹ 1.66 lakh crore, which was ₹ 1.67 lakh crore in Q3 FY24 last year.
The Board of Directors of ONGC has declared the second interim dividend of ₹ 5 per equity share for FY 2024-25. The marked value of each share is ₹ 5, ie 100% dividend has been declared for this year. A record date for distribution of dividend has been fixed on 7 February 2025.