ONGC, Oil India - Still Has More Steam Left; Reiterate 'Buy' Rating: Motilal Oswal

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Motilal Oswal Report.The India upstream stocks have proven to be strong value plays in recent months, with both Oil and Natural Gas Corporation Ltd. and Oil India Ltd. trading higher led by robust production growth guidance. We still see another 15-20% of ‘value’ upside’ left in both these stocks; beyond this, we believe growth prospects become paramount for a sustained re-rating. As a result, investor attention for both stocks could soon shift away from valuation discount (versus previous cycle) to assessing volume growth scenarios, analyzing operating costs (onshore versus offshore acreage) and the strength and visibility of the exploration and development pipeline. We remain positive on both the stocks and reiterate our 'Buy' rating on ONGC and Oil India with target prices of Rs 315 and Rs 650, respectively..Click on the attachment to read the full report:.Dr. Reddy's Labs - U.S., Europe To Drive Growth: Nirmal Bang.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

ONGC, Oil India - Still Has More Steam Left; Reiterate 'Buy' Rating: Motilal Oswal

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