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Thursday, February 09, 2012

Share Review - ONGC

ONGC is slated to announce its 3Q FY 2012 results. We expect the company’s top
line to de  crease by 17.3% y o y to Rs.17,200  cr on account of higher subsidy. EBITDA
margin is expected to decline by 13.54% y o y to 51.5%. The bottom line is
expected to de  crease by 37.1% y o y to Rs. 4,454  cr.

Maintain  Buy view on the  stock with a target price of Rs. 324.

Review by Angel Broking

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