ONGC is at terrible low valuation right now with good fundamentals and good quarters to come. This over pessimistic operator driven selling must be bought. Book Value 296, Single digit PE of 7.47 This stock in portfolio will give you good returns in falling markets as it is attractively place right now. Price 248, Target 315-320 soon.
Technically, this stock is oversold, and we can see traces of strong buying volumes at certain places which indicates institutions slowly accumulating it.
Technically, this stock is oversold, and we can see traces of strong buying volumes at certain places which indicates institutions slowly accumulating it.
Note
ONGC today rebranded itself as OIL AND GAS company as the gas production has exceeded oil production and the rising gas prices and new gas well will start to give more profits than oil in coming quarters. We can expect significant re-rating of the stock and price can easily cross 330-350 levels soon.Note
Ongc should be locked in 20 percent upper circuit as it has now strong fundamentals and yet undervalued and now unlocking new potentials.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.