Buy Oil And Natural Gas Corporation, target price Rs 176: Chandan Taparia

Chandan Taparia of Motilal Oswal Securities has buy call on Oil And Natural Gas Corporation with a target price of Rs 176. The current market price of Oil And Natural Gas Corporation Ltd. is Rs 168.95
Time period given by analyst is Intra Day 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 212355.11 Crore) operating in Gas & Petroleum sector.




Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 123444.95 Crore, up 12.94 % from last quarter Total Income of Rs 109301.82 Crore and up 44.25 % from last year same quarter Total Income of Rs 85577.85 Crore. Company reported net profit after tax of Rs 18210.97 Crore in latest quarter.

Investment RationaleRange breakout of last 32 months and making higher highs from the last five weeks.

Promoter/FII Holdings
Promoters held 60.41 per cent stake in the company as of 31-Dec-2021, while FIIs owned 8.87 per cent, DIIs 17.17 per cent.