Jefferies Sticks to Its Buy Rating for Oil & Natural Gas Corp. Ltd. (ONGC)
Jefferies analyst Bhaskar Chakraborty maintained a Buy rating on Oil & Natural Gas Corp. Ltd. (ONGC – Research Report) on May 23 and set a price target of INR360.00. The company's shares closed last Friday at INR244.22.
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The word on The Street in general, suggests a Hold analyst consensus rating for Oil & Natural Gas Corp. Ltd. with a INR270.75 average price target, a 10.86% upside from current levels. In a report released on May 23, Kotak Mahindra also maintained a Buy rating on the stock with a INR285.00 price target.
Based on Oil & Natural Gas Corp. Ltd.'s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of INR1660966800 thousand and a net profit of INR86.22 billion. In comparison, last year the company earned a revenue of INR1655690600 thousand and had a net profit of INR103.56 billion
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