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ONGC shares surge as Jefferies maintains a "Buy" rating, expecting production and earnings growth.
Oil and Natural Gas Corporation (ONGC), an Indian state-run oil firm, has seen its shares rise 10% in March, following a rebound in the Indian stock market.
Jefferies maintains a "Buy" rating on ONGC with a target price of ₹375, expecting a 14% EPS growth over FY25-27, driven by production growth and better gas pricing.
ONGC aims for 5-6% annual production growth from FY26-28, boosted by BP's technical services, which could increase crude and gas recovery by 44% and 90%, respectively.
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Las acciones de ONGC aumentan mientras Jefferies mantiene una calificación de "Comprar", esperando el crecimiento de la producción y las ganancias.