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BUZZ-India's ONGC hits over 5-mth high on upbeat Q2
October 30, 2017 / 4:15 AM / in 19 days

BUZZ-India's ONGC hits over 5-mth high on upbeat Q2

** Shares of Oil and Natural Gas Corp Ltd rise as much as 3.2 pct to 189.9 rupees; their highest since May 15

** Co posted a higher-than-expected 3.1 pct rise in second-quarter profit on Saturday

** “A good quarter helped by lower cost,” analysts at Jefferies write, hiking their PT to 206 rupees from 200 rupees

** ONGC stacks up well among peers with better through-cycle return ratios, the analysts added, maintaining a “buy” rating on the stock citing “inexpensive valuations”

** 22 of the 32 analysts covering the stock have a “buy” rating while 10 have “hold”; median PT is 198.5 rupees - Thomson Reuters data

** Stock had declined about 4 pct this year up to Friday’s close

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