External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

External broker reports(aggregated public sources)

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

Oil & Natural Gas Corporation / Equity Bottom-Up

<ul><li>Oil &amp; Natural Gas Corporation (ONGC) is primarily engaged in exploration, development and production of crude oil and natural gas.</li><li>ONGC’s crude oil production has been in the range of 54-63% of total domestic oil production in FY11-21</li><li>Target Price and Valuation: We value ONGC at Rs 185 i.e. Rs ~164 for core oil &amp; gas business and Rs ~21 for subsidiaries and other investments</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Oil &amp; Natural Gas Corporation (ONGC) is primarily engaged in exploration, development and production of crude oil and natural gas.ONGC’s crude oil production has been in the range of 54-63% of total domestic oil production in FY11-21Target Price and Valuation: We value ONGC at Rs 185 i.e. Rs ~164 for core oil &amp; gas business and Rs ~21 for subsidiaries and other investmentsContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

<p>PAT was at Rs 4334.8 crore, down 35.6% QoQ as the company had reported exceptional gain of Rs 2613.2 crore in Q4FY21 What should investors do? ONGC's share price has declined over the past five years due to a decline in domestic oil &amp; gas production. Due to lower production...</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

PAT was at Rs 4334.8 crore, down 35.6% QoQ as the company had reported exceptional gain of Rs 2613.2 crore in Q4FY21 What should investors do? ONGC's share price has declined over the past five years due to a decline in domestic oil &amp; gas production. Due to lower production...Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

ONGC: Oil Price Trend Key to Future Performance

External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

<p>Concerns over delay in gas production continue Motilal Oswal values your support in the Asiamoney Brokers Poll 2021 for India Research, Sales, Corporate Access and...</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Concerns over delay in gas production continue Motilal Oswal values your support in the Asiamoney Brokers Poll 2021 for India Research, Sales, Corporate Access and...Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Concerns over delay in gas production continue

<p>ONGC reported in line crude oil sales (-4% YoY), while gas sales continue to be lower than our estimate (-6% YoY). Lower opex led to beat on EBITDA (8% higher than our estimate at INR101b). ONGC almost reached FY20 production levels for crude oil, while the decline in gas production is due to lesser offtake by customers due to the COVID-19 outbreak. This resulted in a production shortfall in VAP as well. Oil/gas production in FY21 was 22.5mmt/22.8bcm, totaling 45.3mmtoe.</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

ONGC reported in line crude oil sales (-4% YoY), while gas sales continue to be lower than our estimate (-6% YoY). Lower opex led to beat on EBITDA (8% higher than our estimate at INR101b). ONGC almost reached FY20 production levels for crude oil, while the decline in gas production is due to lesser offtake by customers due to the COVID-19 outbreak. This resulted in a production shortfall in VAP as well. Oil/gas production in FY21 was 22.5mmt/22.8bcm, totaling 45.3mmtoe.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Further delay in KG-DWN-98/2; expect an upsurge in APM price

India

Oil & Natural Gas Corporation (ONGC) is India's largest crude oil and natural gas company, engaged in the exploration, development, and production of oil and gas. It supplies crude oil, natural gas, and value-added products to major Indian oil and gas refining and marketing companies. The company is headquartered in New Delhi, India, and was founded on August 14, 1956.

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Oil & Natural Gas Corporation (ONGC IN)

ONGC: Higher Realisation Drives Earnings

Oil & Natural Gas Corporation (ONGC) is primarily engaged in exploration, development and production of crude oil and natural gas.

ICICI Securities Limited

ONGC: Oil Price Trend Key to Future Performance

PAT was at Rs 4334.8 crore, down 35.6% QoQ as the company had reported exceptional gain of Rs 2613.2 crore in Q4FY21 What should investors do?...

ICICI Securities Limited

Concerns over delay in gas production continue

Concerns over delay in gas production continue Motilal Oswal values your support in the Asiamoney Brokers Poll 2021 for India Research, Sales,...

Motilal Oswal

Further delay in KG-DWN-98/2; expect an upsurge in APM price

ONGC reported in line crude oil sales (-4% YoY), while gas sales continue to be lower than our estimate (-6% YoY). Lower opex led to beat on EBITDA...

Motilal Oswal

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