Business Standard

ONGC rallies 7% on higher oil prices; stock up 29% so far in February

Goldman Sachs Group Inc. has predicted crude oil prices could advance above $70 in the coming months

ONGC, ONGC building
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SI Reporter Mumbai
Shares of Oil and Natural Gas Corporation (ONGC), on Tuesday, hit a fresh 52-week high of Rs 113.95 after rallying up 7 per cent on the BSE on the back of rising oil prices. Besides, Goldman Sachs Group Inc. predicted prices could advance above $70 in the coming months.

Thus far in the month of February, the stock of the state-owned oil exploration company has rallied 29 per cent, as compared to 8.5 per cent rise in the S&P BSE Sensex.

Analysts at Emkay Global Financial Services reiterate ‘Buy’ rating and ‘Overweight’ stance on ONGC with target price

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