ONGC Stock : ONGC shares on continuous down-trail in five trading sessions; Check Price Target
The volatility in the market stance and the crude oil prices turbulence is the most expected reason behind it. The stock has been unable to cope-up in the last five trading sessions and is mostly expected to trade in bearish zone.
New Delhi: The PSU Oil Major Firm ONGC (Oil and Natural Gas Corporation) Ltd has been strongly witnessing a continuous down-trail of the shares in the recent five trading sessions and still struggling. The volatility in the market stance and the crude oil prices turbulence is the most expected reason behind it. The stock has been unable to cope-up in the last five trading sessions and is mostly expected to trade in bearish zone.
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Factors influencing Stock Valuation:
Crude Oil Prices: Higher crude oil prices generally support ONGC's stock price, as it impacts their earnings.
Production Growth: Increased crude and gas production, particularly in the KG basin, can boost earnings and justify higher targets.
The stock has been plummeted to 5.02% in last five days. However it has been corrected by 1.32 bps in YTD basis. In the past one month, the stock has been corrected over 8.38%. With a significant market capitalization of Rs 3.01 lakh crore, the dividend yield of the company is at 5.67%.
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Stock Analysis:
Analysts at Business Today value the company at 7 times December 2026 adjusted EPS, leading to a target of Rs 305. INDmoney suggests a target price of Rs 294.3, implying a 20.9% upside from the current price.
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