ONGC Share Price Target From 2023 to 2030

Share of Oil and Natural Gas Corporation Limited (ONGC)  is currently trading at around Rs.159/- Existing as well as prospective investors are asking for the ONGC share price target from 2023 to 2030. In this article, we will discuss about the business prospects and financial performance of ONGC and based on our discussion and analysis will tell you the ONGC Share Price Target from 2023 to 2030.  

Following are the frequently asked questions by the existing as well as prospective investors, about the Oil and Natural Gas Corporation Limited (ONGC):

• Is ONGC a good share to buy?
• What is the target price for ONGC?
• What is ONGC long-term target?
• Is ONGC a good long term buy?
• What is the target price of ONGC in 2023?

Discussion & Analysis of Business & Financial performance of  Oil and Natural Gas Corporation Limited:

Oil and Natural Gas Corporation Limited (ONGC) is one of the largest oil and gas exploration and production companies in India. The company was founded in 1956 and is headquartered in Dehradun, Uttarakhand. It is a publicly-traded company and is listed on both the Bombay Stock Exchange and the National Stock Exchange of India.

Financial Performance: ONGC has reported a steady growth in its financial performance over the years. In the financial year 2020-21, the company reported a consolidated revenue of INR 727.43 billion ($9.9 billion), which is a 27% decline from the previous year’s revenue of INR 995.62 billion ($13.6 billion). The decline in revenue can be attributed to the Covid-19 pandemic and the subsequent decline in demand for oil and gas products.

However, the company’s net profit for the financial year 2020-21 stood at INR 157.79 billion ($2.1 billion), which is a 67% increase from the previous year’s net profit of INR 94.32 billion ($1.3 billion). This increase in net profit can be attributed to the cost optimization measures implemented by the company and the increase in crude oil prices in the second half of the financial year.

The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) for the financial year 2020-21 stood at INR 423.09 billion ($5.8 billion), which is a 20% decline from the previous year’s EBITDA of INR 529.77 billion ($7.2 billion). The decline in EBITDA can be attributed to the decline in revenue due to the pandemic.

Business Performance: ONGC has a diverse portfolio of exploration and production assets in India and abroad. The company’s domestic assets include 26 sedimentary basins, of which 10 are currently producing. The company’s offshore assets include the Mumbai High and Neelam fields, which are among the largest producing fields in India.

The company has also made strategic investments in various overseas assets. ONGC Videsh Limited, a subsidiary of ONGC, has a stake in 41 oil and gas assets in 20 countries, including Russia, Kazakhstan, and Iran. These investments have helped the company to diversify its asset base and reduce its dependence on domestic assets.

ONGC has also been investing in renewable energy sources such as wind and solar power. The company has set a target of generating 10 GW of renewable energy by 2040.

Conclusion: In conclusion, ONGC has reported a steady growth in its financial and business performance over the years. The company has a diverse portfolio of exploration and production assets in India and abroad, which has helped it to reduce its dependence on domestic assets. The company’s strategic investments in overseas assets and renewable energy sources have positioned it well for the future. However, the company needs to continue to focus on cost optimization measures and adapt to the changing market conditions to ensure sustainable growth in the future.

ONGC Share Price Target 2023

Based on the above discussion and analysis, the share price of ONGC may touch the level of around Rs.175-190 in 2023.

ONGC Share Price Target 2024

Based on the above discussion and analysis, the share price of ONGC is likely to touch the level of around Rs.200-225 in 2024

ONGC Share Price Target 2025

Based on the above discussion and analysis, the share price of ONGC is likely to remain in the range of Rs.240-270 in 2025.

ONGC Share Price Target 2026

Based on the above discussion and analysis, the share price of ONGC may touch the level of around Rs.275-300 in 2026.

ONGC Share Price Target 2027

Based on the above discussion and analysis, the share price of ONGC is likely to touch the level of around Rs.320-350 in 2027

ONGC Share Price Target 2028

Based on the above discussion and analysis, the share price of ONGC  is likely to remain in the range of Rs.375-400 in 2028

ONGC Share Price Target 2029

Based on the above discussion and analysis, the share price of ONGC  is likely to touch the level of around Rs.425-450 in 2029

ONGC Share Price Target 2030

Based on the above discussion and analysis, the share price of ONGC is likely to remain in the range of Rs.475-500 in 2030

Disclaimer: Share Prices are subject to market fluctuations and are dependent on several factors. These predictions are based on the current market conditions and the future market expectations. Investors are advised to take into consideration all these factors before making any investment in Capital Market. This article should not be treated as Investment advisory and is for general guidance purpose only. We keep revising our share price targets based on the latest information available with us. Please keep visiting our website regularly to keep yourself updated. MoneyInsight does not offer investment advice and does not encourage any action based on its content.

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