Analyst Research Report Snapshot

Title:

Oil and Natural Gas Corporation Ltd. | Q4FY14 First Cut Analysis | Strong operating performance, higher subsidy burden hurt profitability

Price:

$23.00

Provider:

IndiaNivesh Securities Pvt Ltd

Date:

30 May 2014

Pages:

3

Type:

AcrobatPDF

Companies referenced:

ONGC.NS

Available for Immediate Download
Summary:

Oil and Natural Gas Corporation Ltd. | Q4FY14 First Cut Analysis | Strong operating performance, higher subsidy burden hurt profitability We believe that the recent reforms undertaken by the Indian government in pricing of petroleum products (partial diesel regulation and increase in natural gas prices) is expected to be significantly value-accretive for ONGC and significant benefits accrue from FY15. At CMP Rs 374 ONGC is trading 10x FY15E EPS and 9.4xFY16E EPS, lower than of historical average PE of 11x. We maintain buy rating on the stock with target price of Rs. 451(based on 11xFY16E EPS). We will come out with detailed analysis after the analyst meet scheduled on 30th May 2014.

Why buy analyst research?

  • Institutional quality research
  • Available for Immediate Download
  • Detailed company or industry insight
  • Print or save
  • 24 hour customer support
Return to previous page without adding this item to your cart.
Email Customer Support.

About Analyst Research

Analyst research reports are available for immediate download after purchase. You will have unlimited access to the report for 24 hours after purchase, to download, print or save it as many times as you wish. Analyst Research provided by Reuters does not constitute investment advice, and is not endorsed by Reuters Research. This information is protected by copyright and intellectual property laws. More information on Analyst Research.