ONGC Share Price Target 2024: State-owned oil marketing company (OMC) Oil and Natural Gas Corporation Ltd (ONGC) is set to report its fourth quarterly (Q4) earnings for the fiscal year 2024 (FY24) on May 20. The PSU stock will also announce a dividend for its shareholders, it informed in an exchange filing.
Read More: Delhivery stock tumbles 5% as logistics firm slips into red in Q4; Emkay maintains ‘buy’ call
ONGC has delivered 68 per cent returns in the past one year, and a whopping 140 per cent in the past three years. Should investors buy ONGC stocks? Global brokerage firm Jefferies has recommended a “BUY” call on the OMC stock.
ONGC Q4 Results 2024 Date and Time
ONGC informed the bourses that the company will hold a meeting of its Board of Directors to consider and approve its Q4 FY24 results and to recommend a dividend for its shareholders.
Read More: Fairfax-backed Go Digit Insurance IPO subscribed 9.6 times on final day
“…it is hereby informed that a meeting of Board of Directors of the Company is scheduled to be held on Monday, the 20th May, 2024, inter-alia, to consider and approve the following business items:- 1. Audited Financial Results (Standalone and Consolidated) of the Company for the Quarter and Year ended 31st March, 2024; and 2. Recommendation of Final Dividend, if any, for the Financial year ended on 31st March, 2024. ,” the company said in the exchange filing.
ONGC has not specified any particular timing for the release of its Q4 FY24 earnings report, however, the company typically releases its quarterly earnings post-market hours.
Read More: OYO withdraws DRHP, to refile IPO post refinancing: Sources
ONGC Share Price Target 2024
Jefferies has recommended a buy call to ONGC with a target price of Rs 390. From Saturday’s (May 18) closing price of Rs 279 per share, this target indicates a potential upside of up to 40 per cent.
