Monday, November 23, 2020

ONGC | Stock to Buy | Price Outlook


Oil And Natural Gas Corporation Ltd.

Stock/Share Price: 76

➽ In this article we will discuss recent development in the StockShare of ONGC in the Stock Market. ONGC is engaged in the business of exploration, development and production of crude oil, natural gas and value added products.

Key  Summary

Growth in Net Profit with increasing Profit Margin (QoQ)

Increasing profits every quarter for the past 2 quarters

Strong cash generating ability from core business - Improving Cash Flow from operation for last 2 years

Company with Zero Promoter Pledge

Stock gained more than 20% in one month

Strong Momentum: Price above short, medium and long term moving averages

MFs increased their shareholding last quarter

Technical Chart & Price Outlook

Long position in the ONGC stock can be made for the upside level of 89 / 104 in the short term.

Recent Financial Summary

Both sales and profit increased significantly from the previous quarters.

Thanks for your Precious Time.

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r- The information on this blog are based on my personal opinion and experience, it should not be considered professional financial investment advice and in no way it should be considered as a tip. We does not take any compensation of any kind whatsoever from any reader,user and company that are mention on this website.We are not SEBI registered financial advisor or analyst.

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