Buy ONGC, target price Rs 124: ICICI Securities

2513 Imported from a malfunctioning feed
edited July 1 in Business and Finance
imageThe brokerage’s DCF-based valuation, assuming Brent at$40/bbl in FY21E, $45/bbl in FY22E and long-term Brent at $50/bbl, works out to Rs 124/share (52 per cent upside).
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