I-Sec maintains Buy on ONGC, lowers target price to Rs 350
(You can now subscribe to our
(You can now subscribe to our ETMarkets WhatsApp channel
ICICI Securities has a buy call on Oil And Natural Gas Corporation with a revised target price of Rs 350 (Earlier Rs 365). The current market price of Oil And Natural Gas Corporation is Rs 243.15. ONGC , incorporated in 1993, is a Large Cap company with a market cap of Rs 307260.74 crore, operating in Gas & Petroleum sector. Oil And Natural Gas Corporation Ltd. key Products/Revenue Segments include Oil Crude, Gas Natural, Naphtha, Ethane, Propane, Butane, Subsidy, Aviation Turbine Fuel (ATF), Other Operating Revenue, LSHS, Electricity, Mineral Turpentine Oil (MTO), HSD, Processing Charges, Others for the year ending 31-Mar-2024.For the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 173788.62 crore, up 3.13% from last quarter Total Income of Rs 168507.77 crore and up 2.30% from last year same quarter Total Income of Rs 169875.25 crore. The company has reported net profit after tax of Rs 8217.12 crore in latest quarter.The company?s top management includes Mr.Arun Kumar Singh, Dr.Madhav Singh, Dr.Prabhaskar Rai, Mrs.Reena Jaitly, Mr.Manish Pareek, Mr.V Ajit Kumar Raju, Mr.Syamchand Ghosh, Mr.Pankaj Kumar, Ms.Sushma Rawat, Mr.Om Prakash Singh, Mr.Manish Patil, Mr.V C Tongaonkar, Mr.Praveen Mal Khanooja. Company has S Bhandari & Co. LLP as its auditors. As on 31-03-2025, the company has a total of 1,258 crore shares outstanding.ONGC?s Q4FY25 saw adjusted EBITDA/PAT (standalone) of Rs 181 billion/Rs 64.5 billion (9%/-35% YoY) with 7% revenue growth YoY. However, this was offset by sharply higher exploration write-offs, denting net earnings. Consol. EBITDA/PAT stood at Rs 263/Rs 73 billion (+10%/-35% YoY). FY25 EBITDA/PAT (standalone) of INR 724/INR 356bn, rose 4.6%/fell 10% YoY. Oil & gas output for Q4/FY25 slipped 1.8%/1.7% YoY to 10.3mt/41.1mt. Management guidance remains bullish for oil & gas output with ~15?18mmscmd gas production growth and ~20kb/d of oil production growth over FY26?28. Realisations trends, however, are bearish; our revised estimate is $67?70/bbl for FY26?27, driving EPS downgrades of 18.1%/15.5% for FY26E/FY27E (FY28E of Rs 51.4/share introduced). Target price was revised to Rs 350 (earlier Rs 365). The brokerage has retained a BUY rating.Promoters held 58.89 per cent stake in the company as of 31-Mar-2025, while FIIs owned 7.1 per cent, DIIs 19.88 per cent.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
27 minutes ago
- Economic Times
GST reforms could offer relief, but affordability crisis deepens in housing market: ANAROCK
India's affordable housing segment is facing an acute crunch as spiraling construction costs eat into already thin developer margins, leading to a steep decline in supply and sales share. ADVERTISEMENT According to industry data, the cost of constructing residential projects has risen by 40% over the last five years, with a particularly sharp 27.3% increase between October 2021 and October 2024. As a result, affordable housing's share of overall supply has dropped from 40% in 2019 to just 12% in H1 2025, while its sales share has shrunk from 38% to 18% over the same period (ANAROCK Research). Rising input costs: Breaking down the pressure pointsThe biggest drivers of cost escalation are labour and raw materials. Labour wages alone have risen 150% since 2019, including a sharp 25% jump in just the past prices of steel and cement have risen between 30–57% over five years, while copper and aluminium have seen even steeper increases — copper prices surged 91% between 2019 and 2024. ADVERTISEMENT Other cost pressures stem from regulatory approvals, compliance, logistics, and higher fuel prices, further straining developer budgets. Unlock 500+ Stock Recos on App ADVERTISEMENT The surge in input costs is reflected across cities, with construction expenses for affordable housing now ranging from Rs 1,500–2,500 per sq. ft in Kolkata to as high as Rs 2,500–4,500 per sq. ft in projects, by contrast, easily cross Rs 5,000 per sq. ft in metros, given higher finishes and premium materials. ADVERTISEMENT Mumbai: Affordable – Rs 2,500–4,500 / Luxury – Rs 5,000+ Affordable – Rs 2,500–4,500 / Luxury – Rs 5,000+ Delhi NCR: Affordable – Rs 2,000–3,500 / Luxury – Rs 4,500+ Affordable – Rs 2,000–3,500 / Luxury – Rs 4,500+ Bengaluru: Affordable – Rs 1,800–3,200 / Luxury – Rs 4,500+ Affordable – Rs 1,800–3,200 / Luxury – Rs 4,500+ Chennai: Affordable – Rs 1,700–2,800 / Luxury – Rs 4,200+ Affordable – Rs 1,700–2,800 / Luxury – Rs 4,200+ Hyderabad: Affordable – Rs 1,600–2,700 / Luxury – Rs 4,000+ Affordable – Rs 1,600–2,700 / Luxury – Rs 4,000+ Pune: Affordable – Rs 1,800–3,000 / Luxury – Rs 4,500+ Affordable – Rs 1,800–3,000 / Luxury – Rs 4,500+ Kolkata: Affordable – Rs 1,500–2,500 / Luxury – Rs 4,000+ The cost hikes are squeezing affordable housing developers the hardest. Unlike luxury and mid-segment projects, where developers can pass on higher costs to buyers, affordable housing buyers are extremely an increase of Rs 500–800 per sq. ft can raise unit prices by Rs 5–8 lakh, effectively pushing homes out of reach for large sections of the middle- and lower-income population. ADVERTISEMENT Smaller developers, who primarily operate in the affordable segment, are increasingly delaying or cutting back launches. Larger and branded developers, with greater margins in mid- and luxury projects, are better positioned to absorb the risk of tariff hikes on imported construction materials such as steel, aluminium, cement, and finishing equipment could push costs up further.A 25% tariff could increase project costs by 1.5–2.5%. A 50% tariff could escalate costs by 5% or more, with ripple effects across supply hikes would disproportionately impact luxury and commercial projects that rely on imported materials, while further worsening affordability in lower government's proposed GST restructuring could partially offset cost pressures. Key changes include reducing GST on cement from 28% to 18% and rationalizing tax slabs to just 5% and 18%. This could lower input costs for developers and modestly ease housing prices:Affordable housing: Prices could fall by 2–4% if ITC (input tax credit) is housing: Prices could drop 2–3% if GST is cut from 5% to 3%.Luxury housing: Minimal impact, as high-end items may still face steep housing, once the backbone of India's housing policy, is now at risk of slipping further behind. The twin pressures of rising construction costs and reduced affordability have led developers to focus more on mid-range and luxury policy interventions — including tariff moderation, GST reforms, and incentives for affordable housing — are implemented, the segment could face an extended slowdown, reducing homeownership accessibility for millions of Indians. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Economic Times
27 minutes ago
- Economic Times
Is Rs 4 crore enough for retirement corpus? Gurmeet Chadha gives simple calculation metric
How much money does one really need to achieve financial independence—Rs 5 crore, Rs 10 crore, or Rs 20 crore? This is a question that often lingers in the minds of individuals planning their retirement. ADVERTISEMENT Market expert Gurmeet Chadha, Managing Partner & CIO at Complete Circle, offered a straightforward calculation to help people arrive at the "right amount" needed for their retirement corpus. In a recent post on X (formerly Twitter), Chadha addressed the dilemma by linking financial independence directly to current lifestyle costs. 'The right amount is the derivative of current monthly expenditure, which has stepped up 5% every year,' he wrote. Chadha explained that the benchmark lies in ensuring that a portfolio's returns are sufficient to cover monthly expenses. According to him, 'If 6% of your portfolio can match your monthly expenditure – that's the right amount.'To illustrate, Chadha shared an example: 'If your monthly expense is 2 lac rupee.. then 4 cr+ is your retirement corpus.. (6% of 4 cr is 24 lacs annually/ 2 lac monthly).'The seasoned financial advisor highlighted that a clear understanding of one's expenses forms the basis of calculating financial freedom. 'Calculate your expenses – that's the starting point… be liberal while doing the maths,' he advised, underscoring the importance of being realistic and slightly generous in estimating future costs to avoid shortfalls. ADVERTISEMENT In his post, Chadha also touched upon a broader reflection from one of his clients who observed how wealth accumulation often outpaces the ability to enjoy it. 'We end up earning/making far more than we and our children can spend on forgetting how to live,' the client remarked, a thought Chadha echoed in his discussion on financial independence. Unlock 500+ Stock Recos on App By laying down a simple formula, tying monthly expenses to corpus size via portfolio returns, Chadha has provided an accessible framework for individuals grappling with the complex question of 'how much is enough' for retirement. ADVERTISEMENT Also read: HAL, among other defence stocks in focus after Govt clears Rs 62,000 crore Tejas Mark 1A deal (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
New Indian Express
29 minutes ago
- New Indian Express
Maharashtra government inks MoUs worth Rs 42,000 crore ahead of local polls
MUMBAI: Ahead of the upcoming local body elections, the Maharashtra government has given a major push to urban infrastructure by signing eight memoranda of understanding (MoUs), paving the way for investments worth over Rs 42,000 crore and generating 25,000 jobs. Chief Minister Devendra Fadnavis said that Maharashtra is turning into a 'Data central capital' and 'capital of solar power'. He added that the huge investment is coming in both the data and solar power sectors. 'The eight MoUs have been signed with an expected investment of Rs 42,892 crores, and that will generate 25,000 jobs in the state. There is also a boost for the Hyperloop project. The big transformation is happening in the logistics, transport, and mobility sector across India, and Maharashtra is taking the big leap,' CM Devendra Fadnavis said. As per state government data, the state inked the Rs 10,900 crore investment with Jupitar International Ltd, which will invest in Solar power projects. This said investment will generate 8308 jobs in the state. Besides, an MoU with Rochak System Pvt Ltd for setting up the data centre with the investment of Rs 2508 crore and 1000 jobs will be generated.
