ONGC Shares: To select, eligible shareholders for a final dividend of Rs 3.25 per share for the fiscal year FY22, public sector YoYQoQYoYQoQ, oil and gas explorer ONGC has established a set record date. On August 29, 2022, the corporation will conduct its 29th annual general meeting (AGM).
The corporation must receive shareholder approval at the annual general meeting (AGM), which is scheduled for August 29. The dividend will be paid within 30 days of being approved at the AGM. Next week, ONGC is expected to report its financial results for the quarter ending June 30, 2022 (Q1FY23).
realizationrisingThe corporation has set August 19, 2022, as the “Record Date” for selecting members entitled to receive a final dividend of Rs 3.25 per share (i.e., @ 65%) for the fiscal year 2021–2022, according to ONGC.” If the AGM approves the dividend recommendation, it will be paid within 30 days after its declaration “It was an ad.
Emkay Global has a buy call on Oil And Natural Gas Corporation with a target price of Rs 185 in a note dated July 19. Oil And Natural Gas Corporation is currently trading at Rs 130.85. The analyst estimates that the price of Oil And Natural Gas Corporation Ltd. may reach the specified objective in one year.
Dayanand Mittal, an analyst at JM Financial, predicts that the company’s earnings for Q1FY23 will increase significantly sequentially as a result of higher oil prices and an increase in domestic gas pricing.
Mittal stated that he “assumed” the following for ONGC: “a) net crude realization at $108.4/bbl (vs $94.8/bbl in 4QFY22) in line with rising in Brent price; b) domestic gas realizations at $6.5/MMBtu (vs $3.4/MMBtu in 4QFY22) in line with domestic gas price hike; c) overall crude sales volume up 0.7 percent Q
JM Financial anticipates ONGC’s revenues to increase by 84.1% YoY and 23.5% percent to Rs 42,619.5 crore in Q1FY23. EBITDA is projected to increase by a significant 112.5% YoY and 38.9% QoQ to Rs 25,820.4 crore. PAT is projected to be Rs 15,454.9 crore, a significant increase of 256.5% YoYQoQ and 74.44% QoQ.
The firm is one of the main beneficiaries of increased crude prices, hence the analyst has given ONGC a buy recommendation with a target price of Rs 210 per share.
The Gas & Petroleum sector’s Large Cap company, Oil And Natural Gas Corporation Ltd., was founded in 1993 and has a market cap of Rs. 163417.83 Crore.
Consolidated Total Income for the three months ended March 31, 2022, was Rs 1,58,648.42 crore, up 7.33 percent from the previous quarter’s Total In e of Rs 118206.16 crore. In the most recent quarter, the company generated a net profit after tax of Rs 12,440.55 Crore.