CLSA maintains buy on ONGC, lowers target price to Rs 225

CLSA has maintained buy rating on ONGC and lowered target price in the long term to Rs 225 from Rs 240. The stock ended down 1.2% at Rs 133.90 on Monday while the BSE Sensex closed 72.50 points down at 40,284.19.

Company Financials

For the quarter ended 30-09-2019, the company has reported consolidated sales of Rs 101554.26 crore, down -7.27% from last quarter sales of Rs 109514.82 crore. The company has reported net profit after tax of Rs 5485.97 crore in the latest quarter.