ONGC at crossroads? Why Motilal Oswal warns of a 7% downside despite recent rally
Motilal Oswal Financial Services has given a ‘Neutral’ rating to ONGC with a target price of Rs 275, citing stagnant production, sales growth, and a decline in profits. The company may see a one-time boost from royalty reforms, but projected declines in EPS and total income indicate a tough road ahead.