Oil & Natural Gas Corporation Ltd Stock Quotes and Charts
Source:Flash News Investment Buy-@1343<br>ONGC became the first Indian company to be placed inFortune's world's most admired company. We are quitebullish on the performance of ONGC in the quarter tocome. With crude oil again hovering at around $98 per bar-rel we expect a rise in realization and this may drive thegrowth for the company.Although we are not expecting a great rise in topline owingto increased subsidy burden and appreciating Rupee againstthe US Dollar, profitability will be more. EBITDA marginwill increase on account of higher realization plus deprecia-tion is expected to decrease as the company had fully depre-ciated its undersea pipeline last year.On the valuation front, this counter is trading at trailingfour quarter PE of 18x. Given its forward estimates, it isavailable at 12x PE FY2008E. Hence, this valuation makesthe counter attractive given the good earning season aheadbacked by strong crude prices
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