ONGC (Oil and Natural Gas Corporation) is an Indian multinational oil and gas company headquartered in Dehradun, Uttarakhand. It is a public sector undertaking (PSU) and one of the largest oil and gas exploration and production companies in the world. In this Article we will discuss about ONGC Share Price Target 2023, 2024, 2025, 2026, 2027, 2028, 2029, 2030.
Table of Contents
Introduction
ONGC was founded on 14 August 1956 and has since played a crucial role in India’s energy sector. The company is primarily engaged in the exploration, production, and refining of crude oil and natural gas. ONGC operates throughout the value chain of the oil and gas industry, including upstream exploration and production, downstream refining and marketing, and the development of alternative energy sources.
ONGC’s operations are spread across various oil and gas fields in India and abroad. The company has made significant contributions to India’s energy security by discovering and developing several major oil and gas fields in the country. ONGC has also ventured into international projects and collaborations to explore and produce hydrocarbons in other countries.
Business Model of ONGC (Oil and Natural Gas Corporation)
The business model of ONGC (Oil and Natural Gas Corporation) revolves around the exploration, production, and refining of oil and natural gas. Here are the key elements of ONGC’s business model:
- Upstream Operations: ONGC engages in upstream activities, which include the exploration and production of oil and gas reserves. This involves identifying potential oil and gas fields, conducting seismic surveys, drilling wells, and extracting hydrocarbons from the ground.
- Reserves Development: ONGC focuses on developing its discovered reserves by implementing advanced techniques and technologies to enhance production. This includes reservoir management, well stimulation, and employing cutting-edge drilling and production methods to maximize recovery from existing fields.
- Refining and Marketing: ONGC has also ventured into downstream activities, including refining crude oil and marketing petroleum products. The company operates refineries to process crude oil into various refined products such as gasoline, diesel, and petrochemicals. These products are then marketed and distributed to consumers.
- Diversification: ONGC has diversified its business by investing in other areas related to the energy sector. This includes renewable energy sources like wind and solar power, petrochemicals, and the development of alternative fuels. By expanding into these segments, ONGC aims to adapt to changing market dynamics and contribute to a sustainable energy future.
- International Operations: ONGC has expanded its operations beyond India and has ventured into international projects and collaborations. It actively participates in joint ventures and partnerships with global energy companies to explore and produce oil and gas reserves in other countries.
- Research and Development: ONGC places a strong emphasis on research and development (R&D) to drive innovation and improve operational efficiency. The company invests in R&D activities to develop new technologies, enhance exploration techniques, and optimize production processes.
- Corporate Social Responsibility: ONGC is committed to sustainable development and social responsibility. The company undertakes various initiatives in areas like healthcare, education, environmental conservation, and community development to contribute to the well-being of society.
Shareholding of ONGC (Oil and Natural Gas Corporation)
As of March 31, 2023, the shareholding pattern of ONGC Limited was as follows:
- Promoter and promoter group: 58.89%
- Retails & Others: 38.69%
- DIIs: 10.77%
- Mutual funds: 8.73%
- FIIs: 7.97%
ONGC Cement Share
Oil and Natural Gas Corporation Limited Share listed on the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE).
As of July 8, 2023, ONGC share price on the NSE was INR 163.75/- ONGC Share 52 week high at Rs. 169/- & 52 week low Rs.121/-. The P/E Ratio of ONGC is 5.81.
| Company Name | Oil and Natural Gas Corporation Limited |
| Share Name | ONGC |
| Sector | Petroleum |
| Headquater | Dehradoon |
| Foundation | 1956 |
| Key Person | Arun Kumar Singh (Chairman & CEO) |
| Market Cap | 2,05,687 Crores Rs. |
| Revenue | 1,63,143.87 Crore Rs |
| Official Website | Click Here |
ONGC Share Price Target 2023, 2024, 2025, 2026, 2027, 2028, 2029, 2030, 2040, 2050
| Year | First Target | Second Target |
| 2023 | 170 | 190 |
| 2024 | 220 | 260 |
| 2025 | 290 | 340 |
| 2026 | 360 | 410 |
| 2027 | 440 | 520 |
| 2028 | 540 | 610 |
| 2029 | 640 | 700 |
| 2030 | 730 | 810 |
| 2040 | 1650 | 1800 |
| 2050 | 3600 | 3900 |
Note:- “That these share price targets for “ONGC Share” are only provided for the purpose of reference and that this prediction will only hold true in the event that there is optimism in the market. Any uncertainties regarding the company or the current state of the global market will not be addressed in this analysis.”
Annual Result Summary of Oil and Natural Gas Corporation
ONGC annual results for the fiscal year ended March 31, 2023:
- Revenue: Consolidated revenue for FY23 was Rs. 164,066.72 crore, up 5.22% from FY22.
- Profit: Consolidated net profit for FY23 was Rs. 27,344.51 crore, down 53.3% from FY22.
- Production: Domestic crude oil production for FY23 was 27.22 million tonnes, up 0.7% from FY22.
- Gas production: Domestic natural gas production for FY23 was 62.15 billion cubic meters, up 2.3% from FY22.
- Investments: ONGC’s capital expenditure for FY23 was Rs. 35,000 crore.
- Awards: ONGC was awarded the prestigious “Global Oil Spill Management Award” in 2022.
Last 5 Year Growth of ONGC Share
In Last 5 year ONGC Share give only 6.26% returns to its Investors.
| Year | Share Price |
| June- 2019 | 169 |
| June- 2020 | 85.75 |
| June- 2021 | 120 |
| June- 2022 | 142 |
| June- 2023 | 163 |
ONGC Share Price Target 2023
ONGC will continue to focus on exploration and production activities to discover and develop new oil and gas reserves. The company will leverage advanced technologies and techniques to maximize recovery from existing fields and explore untapped reserves in India and abroad.
ONGC share price target 2023 are as follows –
| Target Year | 1st Target | 2nd Target |
|---|---|---|
| 2023 | ₹170 | ₹190 |
ONGC Share Price Target 2024
ONGC is expected to strengthen its presence in the renewable energy sector. As the world shifts towards cleaner and more sustainable energy sources, ONGC will likely invest in technologies such as wind, solar, and biofuels. This diversification will help ONGC adapt to changing market dynamics and contribute to India’s renewable energy targets.
ONGC share price target 2024 are as follows –
| Target Year | 1st Target | 2nd Target |
|---|---|---|
| 2024 | ₹220 | ₹260 |
ONGC Share Price Target 2025
ONGC may further integrate its operations along the hydrocarbon value chain. This could involve expanding downstream activities, such as refining and petrochemical production, to add value to its hydrocarbon resources and capture a larger share of the market.
ONGC share price target 2025 are as follows –
| Target Year | 1st Target | 2nd Target |
|---|---|---|
| 2025 | ₹290 | ₹340 |
ONGC Share Price Target 2026
ONGC will continue to invest in research and development to adopt advanced technologies and improve operational efficiency. This includes implementing digital solutions, data analytics, and artificial intelligence to optimize exploration, production, and refining processes.
ONGC share price target 2026 are as follows –
| Target Year | 1st Target | 2nd Target |
|---|---|---|
| 2026 | ₹360 | ₹410 |
ONGC Share Price Target 2027
ONGC will likely seek international collaborations and partnerships to access new markets, share technical expertise, and participate in joint ventures for oil and gas exploration and production in other countries. Such collaborations will contribute to ONGC’s global footprint and diversification.
ONGC share price target 2027 are as follows –
| Target Year | 1st Target | 2nd Target |
|---|---|---|
| 2027 | ₹440 | ₹520 |
ONGC Share Price Target 2028
ONGC will increasingly focus on environmental sustainability by reducing its carbon footprint and adopting eco-friendly practices. This may involve measures such as carbon capture and storage, energy-efficient operations, and promoting environmental conservation initiatives.
ONGC share price target 2028 are as follows –
| Target Year | 1st Target | 2nd Target |
|---|---|---|
| 2028 | ₹540 | ₹610 |
ONGC Share Price Target 2029
ONGC will navigate through evolving regulatory frameworks and government policies related to the energy sector. As the energy transition gains momentum, ONGC will need to adapt to new regulations, incentives, and market mechanisms to remain competitive and aligned with sustainability goals.
ONGC share price target 2029 are as follows –
| Target Year | 1st Target | 2nd Target |
|---|---|---|
| 2029 | ₹640 | ₹700 |
ONGC Share Price Target 2030
ONGC’s commitment to corporate social responsibility is expected to continue. The company will likely expand its initiatives in areas such as education, healthcare, and community development to contribute to the well-being of society.
ONGC share price target 2030 are as follows –
| Target Year | 1st Target | 2nd Target |
|---|---|---|
| 2030 | ₹730 | ₹810 |
Dividend History of ONGC Share
Here is a brief overview of ONGC dividend history over the past few years:
- In 2023, Company declared a final dividend of Rs.4 per share.
- In 2022, Company declared a final dividend of Rs.6.75 per share.
- In 2021, Company declared a final dividend of Rs.1.75 per share.
- In 2020, Company declared a final dividend of Rs.5 per share.
Joint venture & Subsidiaries of ONGC (Oil and Natural Gas Corporation)
ONGC (Oil and Natural Gas Corporation) has engaged in several joint ventures and subsidiaries to expand its operations, collaborate with other companies, and venture into diverse areas of the energy sector. Here are some notable joint ventures and subsidiaries of ONGC:
- Joint Ventures:
- ONGC Videsh Limited (OVL): ONGC’s international arm, OVL, engages in overseas exploration and production activities through various joint ventures. OVL has partnerships with international companies and national oil corporations to explore and produce oil and gas reserves in countries such as Russia, Kazakhstan, Vietnam, Iran, and many others.
- Petronet LNG Limited: ONGC is a major stakeholder in Petronet LNG Limited, a joint venture with Indian Oil Corporation (IOC), Bharat Petroleum Corporation Limited (BPCL), and GAIL (India) Limited. Petronet LNG operates LNG (liquefied natural gas) import and regasification terminals in India and plays a significant role in meeting the country’s natural gas demand.
- Mangalore Refinery and Petrochemicals Limited (MRPL): ONGC holds a majority stake in MRPL, a joint venture with Hindustan Petroleum Corporation Limited (HPCL). MRPL operates a large refinery and petrochemical complex in Mangalore, India, and plays a vital role in ONGC’s downstream operations.
- Subsidiaries:
- ONGC Petro Additions Limited (OPaL): OPaL is a wholly-owned subsidiary of ONGC. It operates a mega petrochemical complex in Gujarat, India, and produces a wide range of petrochemical products, including polyethylene, polypropylene, and other derivatives.
- ONGC Mangalore Petrochemicals Limited (OMPL): OMPL is a subsidiary of ONGC and focuses on the production of various petrochemical products. OMPL operates a petrochemical complex in Mangalore, India, and contributes to ONGC’s downstream diversification.
- ONGC Tripura Power Company Limited (OTPC): OTPC is a joint venture between ONGC, the Tripura government, and IL&FS (Infrastructure Leasing & Financial Services Limited). OTPC operates a gas-based thermal power plant in Tripura, India, and plays a crucial role in meeting the power needs of the region.
- ONGC Mangalore Refinery Limited (OMRL): OMRL is another subsidiary of ONGC, focusing on refining operations. OMRL operates a refinery in Mangalore, India, and contributes to ONGC’s downstream business.
Future Plan of ONGC (Oil and Natural Gas Corporation)
Here are some ONGC’s future plans:
- The company plans to invest Rs 31,000 crore in exploration and production over the next three years.
- ONGC is developing a new gas hydrate project in the Krishna-Godavari basin.
- The company is also looking to expand its renewable energy portfolio by investing in solar and wind power projects.
FAQs –
The ONGC share price is affected by a number of factors, including:
a- The price of oil and gas. b-The company’s financial performance, c-The global economic outlook, d-Investor sentiment
As with any investment, there are risks associated with investing in ONGC shares. These risks include:
-The price of oil and gas could fall
-The company’s financial performance could deteriorate
-The global economic outlook could worsen
-Investor sentiment could turn negative
Our analysts believe that the ONGC share price could reach 190 INR by the end of 2023. However, it is important to note that the stock market is volatile and the actual price could be higher or lower.
Next target of ONGC in upcoming days is Rs.170/-
You can find ONGC share price target by looking at above article. These reports are made by our analyst. They provide analysis of the company’s financial performance and outlook, and also provide share price targets.
