Buy Oil And Natural Gas Corporation, target price Rs 184: Chandan Taparia

Chandan Taparia of Motilal Oswal Securities has buy call on Oil And Natural Gas Corporation with a target price of Rs 184. The current market price of Oil And Natural Gas Corporation is Rs 174.2. 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 219211.37 Crore) operating in Gas & Petroleum sector.

Oil And Natural Gas Corporation Ltd. key Products/Revenue Segments include Oil Crude, Gas Natural, Naphtha, Ethane, Propane, C2/C3 (Ethane/Propane), Butane, HSD, Subsidy, Superior Kerosene Oil, Electricity, LSHS, Other Operating Revenue, Aviation Turbine Fuel (ATF), Mineral Turpentine Oil (MTO), Processing Charges, Others for the year ending 31-Mar-2021.



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
Holding well above its 50-DEMA and declines are likely to bought

Promoter/FII Holdings
Promoters held 58.91 per cent stake in the company as of 31-Mar-2022, while FIIs owned 9.91 per cent, DIIs 16.37 per cent.