Maharatna Stock To Trade Ex-Dividend In 3-Days, Motilal Oswal Maintains Buy Rating

Shares of large cap company operating in gas and petroleum sector, Oil And Natural Gas Corporation Ltd will soon trade ex-dividend. Leading brokerage firm Motilal Oswal has assigned buy call to ONGC share with target price of Rs 220 apiece. Current market price of ONGC share is Rs 178.00 per share. If you buy Oil And Natural Gas Corporation shares now, you can fetch likely return of 24%. Check details below:

Oil And Natural Gas Corporation Stock Performance & Return: Last trading price of ONGC stock is Rs 178.00 apiece with intraday gain of 0.48% as of August 14, 2023. Its 52-week high price is Rs 180.25 apiece and 52-week low price is Rs 121.50 apiece, respectively. It has a market capitalisation of Rs 2,23,928.97 crore. ONGC shares soared 20% in last 6-months, 18% return YTD, rallied 28% in last 1-year, gained 53% in last 2-years, and soared 131% in last 3-years.

ONGC Valuation: According to Motilal Oswal, "We value the standalone business at 6x FY25E adj. EPS of INR30.8 and add the value of investments to arrive at our TP of INR220, implying 24% potential upside. We reiterate our BUY rating on the stock." The company intends to add more than 100,000 sq. km of exploratory area each year, while also spending INR100b each year on exploration, added Motilal Oswal.

ONGC Dividend: ONGC shares will trade ex-dividend on August 18, 2023. The company on August 5, 2023 fixed August 18, 2023 as the record date and according to the BSE filing, "In terms of Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, it is hereby informed that Friday, the 18th August, 2023 has been fixed as 'Record Date' for determining eligibility of members for payment of Final Dividend of ₹0.50 per share of ₹5/- each (@ 10%) for the FY'23. Dividend, if approved at the AGM, will be paid to the members within the stipulated period of 30 days from the date of declaration."

ONGC Financial Performance: The company for the quarter ended June 30, 2023 declared consolidated total income of Rs 166,367.12 crore, down .22% as compared to the last quarter total income of Rs 166,728.80 crore. It announced its recent quarter net profit after tax at Rs 16,857.22 crore.

Disclaimer: The stock has been picked from the brokerage report of Motilal Oswal. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.