Share Market reside: Sensex, Nifty Open better; Banking, buyer Durables shares develop

Shares of Oil & herbal fuel Corp Ltd. rose 4.9% in intraday change, the largest in five weeks, to Rs 162.25 apiece as analysts raised goal post September quarter numbers

ONGC Q2FY22 (Standalone, QoQ)

  • salary up 5.eight% at Rs 24,353.sixty one crore Vs Rs 23,021.sixty four crore (BBG estimate: Rs 25,265 crore)

  • internet earnings at Rs 18,347.seventy three crore Vs Rs 4,334.seventy five crore (BBG estimate: Rs 6,585.2 crore)

  • Ebitda up 13.9% at Rs 12,527.53 crore Vs Rs eleven,001.78 crore (BBG estimate: Rs 13,519.5 crore)

  • Margins at fifty one.4% Vs 47.eight% (BBG estimate: 53.5%)

  • Declared an intervening time dividend of Rs 5.50 per share

    • Of the 28 analysts tracking the business, 21 maintained 'buy', three maintained 'hang' and 4 maintained 'sell' thoughts. The usual consensus price of analysts tracked through Bloomberg implied an upside of 9.6%.

    Motilal Oswal

  • maintains 'purchase' recommendation with the goal fee raised to Rs 195 to Rs 190; an implied upside of 26.09%

  • Oil and gasoline creation declined in H1 as a result of restrictive circumstances creaated through cyclone Tauktae as well as Covid.

  • gasoline construction from the KG basis continues to be delayed as foreign commute restrictions adversely impacts logistics.

  • administration has revised oil and gas assistance for FY22E downwards.

  • continues stance on normalisation of brent expenses through the end of FY22.

  • Expectation of extreme wintry weather, give constraints, low stock resulting in gasoline fee buying and selling at multi-yr highs.

  • ONGC's gas construction likely to clock in a CAGR of seven% over FY21-24E, with efforts to arrest decline in oil construction.

    • Emkay

  • maintains 'buy' advice with the target expense raised to Rs 185 from Rs one hundred fifty prior.

  • business does not agree with that better gasoline expenses would not be allowed next fiscal.

  • Cyclone Tauktae have an effect on offshore in addition to onshore tasks.

  • are expecting the enterprise to witness a robuse FY23.

  • Key downside risks: antagonistic oil/gasoline expenditures, adverse guidelines, can charge/capex overrruns and demanding dry holes

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