ONGC

C Share Price Target: Brokerages see nearly 10% downside, maintain cautious stance

ONGC Share Price Target: Brokerages, including Citi and Motilal Oswal, have reviewed the latest quarterly performance of Maharatna PSU Oil and Natural Gas Corporation (ONGC) and issued updated ratings and price targets, signalling limited upside from current levels. ONGC, a constituent of the BSE 100, commands a market capitalisation of Rs 3,41,240.07 crore as of February 16. From a broader perspective, both brokerages have maintained cautious stances, with either a Neutral or Sell recommendation on the stock. Their target prices imply a potential downside of nearly 10 per cent from the prevailing market price. Brokerages on ONGC Citi maintains ‘Sell’, raises target price Citigroup has retained its ‘Sell’ rating on ONGC while marginally increasing the target price to Rs 245 from Rs 225.