AgenciesRelated
ICICI Direct has buy call on Oil And Natural Gas Corporation with a target price of Rs 225. The current market price of Oil And Natural Gas Corporation is Rs 177.2. Time period given by analyst is one year when Oil And Natural Gas Corporation Ltd. price can reach defined target.
Oil And Natural Gas Corporation Ltd., incorporated in the year 1993, is a Large Cap company (having a market cap of Rs 223866.07 Crore) operating in Gas & Petroleum sector.
Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 147814.67 Crore, up 19.74 % from last quarter Total Income of Rs 123444.95 Crore and up 44.33 % from last year same quarter Total Income of Rs 102416.51 Crore. Company reported net profit after tax of Rs 10936.33 Crore in latest quarter.
Investment Rationale
Oil prices surged to multi-year highs amid concerns over supply disruption following geopolitical conflict. The brokerage build-in oil realisation at US$78.5/bbl for FY24E as oil futures contract are trending at higher level. On account of favourable oil price trend, it revises rating from HOLD to BUY
Promoter/FII Holdings
Promoters held 60.4 per cent stake in the company as of Sept 30, 2020, while FIIs held 7.7 per cent, DIIs 17.5 per cent and public and others 14.4 per cent.
Oil And Natural Gas Corporation Ltd., incorporated in the year 1993, is a Large Cap company (having a market cap of Rs 223866.07 Crore) operating in Gas & Petroleum sector.
Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 147814.67 Crore, up 19.74 % from last quarter Total Income of Rs 123444.95 Crore and up 44.33 % from last year same quarter Total Income of Rs 102416.51 Crore. Company reported net profit after tax of Rs 10936.33 Crore in latest quarter.
Investment Rationale
Oil prices surged to multi-year highs amid concerns over supply disruption following geopolitical conflict. The brokerage build-in oil realisation at US$78.5/bbl for FY24E as oil futures contract are trending at higher level. On account of favourable oil price trend, it revises rating from HOLD to BUY
Promoter/FII Holdings
Promoters held 60.4 per cent stake in the company as of Sept 30, 2020, while FIIs held 7.7 per cent, DIIs 17.5 per cent and public and others 14.4 per cent.
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