COMPANY NAME- ONGC                   21-APR-11.

RECOMMENDATION- BUY                    PRICE TARGET -340                                        

                                           COMPANY BASIC INFORMATION

ISIN Id

INE213A01029

BSE Id

500312

NSE Id

ONGC

INDUSTRY

Oil Drilling And Exploration

Market Cap

260258.01

Book Value

102.02

 

EPS (TTM)

23.27

Price/Book

2.98

Face Value

5.00

P/E

13.07

Div(%)

330.00%

Industry P/E

15.33

P/C

10.35

Div Yield (%)

5.42

STOCK PRICE HISTORY( NSE)

All Time High   

1513.90

All Time Low     

95.10

52 Week High   

1472.60

52 Week Low     

260.10

 

 

 

 

 

 

 

 

 

 

 

ecommendation-

The stock has given a breakout recently after forming an intermediate bottom at 260 levels, where it made its 52 week low.  Interestingly 250-260 happens to be an old strong support for the counter and as expected accumulation was seen around those levels. Now the stock has not only resumed its intermediate uptrend by forming higher peaks and higher troughs but also managed to give a breakout from an inverted Head and Shoulder Pattern on appreciable volumes. It is also trading above its shorter and intermediate term moving averages. We expect the stock to continue it’s up move for a while and therefore recommend a Buy on the stock around 290-295 with a stop loss below 280 for a minimum target of 340.