By OngC shares: Oil and gas Explorers in Public Sector, Ongc has a fixed record date to determine shareholders who meet the requirements for the final dividend of RS 3.25 per share for the FY22 financial year. The company is scheduled to hold the 29th Annual General Meeting (GMS) on August 29, 2022.
Dividend 65 percent is subject to the approval of shareholders of the company in the GMS scheduled on August 29. After being approved in the GMS, dividends will be paid within 30 days. Ongc is scheduled to announce its financial performance for the quarter that ends on June 30, 2022 (Q1fy23), next week.
In submitting a regulation, Ongc said, “The company has set August 19, 2022 as a ‘record date’ to determine members who meet the requirements to receive the final dividend of RS 3.25 per share (eg@ 65 percent) for the financial year 2021-22. “” The recommended dividend, if approved at the GMS, will be paid in the specified period 30 days after the declaration, “he added.
In a record dated July 19, Emkay Global has a purchase call at an oil and natural gas company with a target price of RS 185. The current market price of Corporation of Oil and Natural Gas is RS 130.85. The time period given by analysts is one year when the price of oil and natural gas corporation Ltd. can reach the specified target.
For Q1FY23, Dayanand Mittal analysts in JM Financial estimate that the company’s revenue will rise very sequentially behind the higher crude oil price and increase in domestic gas prices.
In Ongc, Mittal said, “It is assumed a) realization of crude oil at $ 108.4/BBL (vs $ 94.8/BBL in 4QFY22) in accordance with the increase in the price of Brent; b) Realization of domestic gas at $ 6.5/MMBTU (vs $ 3.4/MMBTU in 4QFY22) in accordance with the increase in domestic gas prices; c) Overall raw sales volume rose 0.7 percent qoq; and d) Overall gas sales volume rose 2.7 percent qoq. “
JM Financial expects OngC sales at RS 42,619.5 CRORE in Q1FY23 up 85.1 percent yoy and 23.5 percent QOQ. EBITDA is seen in RS 25,820.4 Crore higher with 112.5 percent of strong yoy and 38.9 percent qoq. While PAT is expected in RS 15,454.9 Crore will rise strongly by 256.5 percent yoy and 74.4 percent qoq.
Analysts have ranked buying to Ongc with a target price of RS 210 each because shares are one of the main beneficiaries for rising crude oil prices.
Oil and Natural Gas Corporation Ltd., which was founded in 1993, is a large hat company (has a market capitalization of RS 163417.83 Crore) which operates in the gas & petroleum sector.
Finance
For the quarter ended 31-03-2022, the company reported a total consolidated income of RS of 1.58,648.42 Crore, up 7.33 percent of the total revenue of the last quarter of the hospital 1,47,814.67 crore and rose 34.21 percent from the year quarter Then the total quarter of the same quarter was the same last year’s income RS 118206.16 Crore. The company reported a net profit after tax amounting to 12,440.55 Crore in the last quarter.