Welcome back to another share price prediction. In this article, we will discuss ONGC Share Price Target 2022, 2023, 2024, 2025, 2026, 2027, 2029, and 2030. Through this article, you are going to get a complete technical analysis and prediction of how Indian Oil Corporation (ONGC) is going to perform in the coming years.
Therefore, you are requested not to skip any part of this post and read till the end so that you do not miss any information related to ONGC Share Price Target.
What is the full form of ONGC?
Table of Contents
The full form of ONGC is Oil and Natural Gas Corporation.
What is ONGC?
Oil and Natural Gas Corporation Limited (ONGC) is one of the top natural gas and crude oil producing companies running under the Government of India, headquartered in Dehradun, Uttarakhand, India. The company was founded on 14 August 1956 under the Govt. of India. This company is the best oil and gas producer and explorer of the Government of India.
ONGC produces over 84% of its natural gas and 70% of its crude oil, which is considered a huge achievement. That’s why the Government of India has awarded Maharatna to Oil and Gas Natural Gas Corporation Limited.
ONGC amassed the top position with a net profit of ₹13,445 crores in the Top 10 Profit-Making Central PSUs list in the Financial Year 2019 to 2020.
Oil and Natural Gas Corporation (ONGC) Overview:
| Company name | Oil and Natural Gas Corporation Limited |
| Share Name | ONGC |
| Industry | Oil and Gas |
| Established on | 14 August 1956 |
| Headquarters | Dehradun, Uttarakhand, India |
| Company’s Products | Natural Gas, Petroleum, Electricity, Petrochemicals |
| Business Area | Worldwide |
| Chairman | Rajesh Kumar Srivastava |
| Total Number of Employees | 27k+ (As of Dec 2022) |
| Primary Exchanges | BSE, NSE |
| Market Capitalization | 1.77 Trillion INR |
| Official Website | www.ongcindia.com |
ONGC Share Price Today | ONGC Live Price Chart
Credits: Tradingview
ONGC Share Price Target 2022, 2023, 2024, 2025, 2026, 2027, 2028, 2029, and 2030.
| Year | First Target (INR) | Second Target (INR) | Average Price (INR) |
| 2022 | ₹170 | ₹185 | ₹140 |
| 2023 | ₹200 | ₹215 | ₹190 |
| 2024 | ₹235 | ₹250 | ₹225 |
| 2025 | ₹260 | ₹300 | ₹270 |
| 2026 | ₹310 | ₹335 | ₹315 |
| 2027 | ₹345 | ₹380 | ₹355 |
| 2028 | ₹400 | ₹440 | ₹415 |
| 2029 | ₹450 | ₹500 | ₹470 |
| 2030 | ₹525 | ₹600 | ₹535 |
ONGC Share Price Target 2022
ONGC is one of the leading oil and gas refinery companies, which produces 84 percent of natural gas and 70 percent of crude oil among all the oil and gas producing companies.
ONGC has maintained its dominance in the energy sector. When there is any big news related to petroleum, good profit is seen in the business of ONGC. After the pandemic situation of 2020, the demand for crude oil has increased a lot in the world. As a result of this, the company earned a lot of profit.
| Year | First Target (INR) | Second Target (INR) | Average Price (INR) |
| 2022 | ₹170 | ₹185 | ₹140 |
According to our technical analysis, ONGC share price target for 2022 will be ₹170 (1st Target) and ₹185 (2nd Target), with an average price of ₹140.
ONGC Share Price Target 2023
ONGC Limited has recently established itself in a very strong position by partnering with India’s top-class companies. The company is working on many projects to expand itself worldwide.
| Year | First Target (INR) | Second Target (INR) | Average Price (INR) |
| 2023 | ₹200 | ₹215 | ₹190 |
Many experts predict that ONGC’s first target will be ₹200, and its second target will be ₹215, with an average price of ₹190 in 2023.
If you want to know about another potential stock, you may read IOC Share Price Target.
ONGC Share Price Target 2024
ONGC’s international branch ONGC Videsh Limited (also known as OVL in short), was renamed on 15 June 1989. OVL was created to do business in oil and gas with the rest of the world. With this business strategy, ONGC is currently working on about 40 projects in 17 countries.
| Year | First Target (INR) | Second Target (INR) | Average Price (INR) |
| 2024 | ₹235 | ₹250 | ₹225 |
If we talk about profit in a short time, then ONGC share price target can touch up to ₹250 by the end of 2024. In 2024, the first price target of ONGC shares will be ₹235, with an average price range of ₹225.
You may also read the share price target of Bharat Heavy Electricals Limited.
ONGC Share Price Target 2025
As the demand for oil and gas increases, its quantity decreases worldwide. In the future, scientists believe there will be a day when crude oil is no longer produced.
That’s why big companies are focusing on better alternatives to crude oil and natural gas. Currently, there are no indications that ONGC is working on alternatives to crude oil and gas.
Keeping these things in mind, we have estimated that ONGC share price target can go up to ₹300 in 2025. But if the company starts focusing on Renewal Energy or Clean Energy, then ONGC share price can go many times higher than our expectations.
| Year | First Target (INR) | Second Target (INR) | Average Price (INR) |
| 2025 | ₹260 | ₹300 | ₹270 |
ONGC Share Price Target 2026
Considering the present circumstances, we have estimated that ONGC share price target can go from ₹ 310 (1st Target) to ₹ 335 (2nd Target) in 2026.
| Year | First Target (INR) | Second Target (INR) | Average Price (INR) |
| 2026 | ₹310 | ₹335 | ₹315 |
ONGC Share Price Target 2027
The total revenue of ONGC will be around US$ 68 billion by the end of 2022. The market capitalization of the company is 1.77 Trillion INR. According to the ONGC share price chart, the stock has been trading around 140 for a while now, so there is no indication of good growth.
| Year | First Target (INR) | Second Target (INR) | Average Price (INR) |
| 2027 | ₹345 | ₹380 | ₹355 |
Based on some technical and fundamental analysis, we have estimated that the first target of ONGC share in 2027 can be ₹345, and the second target can be ₹380.
In addition to ONGC, it is also possible to invest in Coal India stock, which is considered to be very promising. Before investing, read the full details of Coal India Share Price Target.
ONGC Share Price Target 2028
ONGC is an Indian refinery company undertaken by the Government of India. Since it is an undertaking company, we can’t expect a sudden increase in its share.
| Year | First Target (INR) | Second Target (INR) | Average Price (INR) |
| 2028 | ₹400 | ₹440 | ₹415 |
Therefore, we predict that the first target of ONGC share price can reach ₹400 in 2028, and the second target can reach ₹440 in 2028.
ONGC Share Price Target 2029
Considering the maximum consumption of ONGC and its supply, we can say that investors are not expected to get huge benefits from long-term investment in this company.
| Year | First Target (INR) | Second Target (INR) | Average Price (INR) |
| 2029 | ₹450 | ₹500 | ₹470 |
According to some fundamental and technical analysis, we expect that ONGC will reach up to ₹500 by the end of 2029.
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ONGC Share Price Target 2030
Although it is very difficult to predict ONGC share price in 2030, looking at the company’s current situation, we have expected that the share will touch the figure of around ₹600.
| Year | First Target (INR) | Second Target (INR) | Average Price (INR) |
| 2030 | ₹525 | ₹600 | ₹535 |
But this figure would be much higher if the company upgraded itself with the increasing technology. It means that if the company starts working fast, thinking about the options of oil and gas, it will see the share price of ONGC many times higher than our prediction.
Frequently Asked Questions:
Is ONGC good to buy now?
ONGC is a potentially strong company from a technical and fundamental standpoint, and the government of India governs it. It is a good share to buy, and now you can buy it for a reasonable price.
What is the future of ONGC share?
ONGC has achieved a huge achievement in the Top 10 Profit-Making Central PSUs list. The company has secured the first position in the PSUs list with ₹ 13,445 crores net profit, which is considered a huge achievement for any company.
What is the highest price of ONGC shares?
If the record of the last five years of ONGC shares is checked, its highest price is 208.50 INR. If the company starts working based on new technology, then there are possibilities of a substantial increase in the company’s share price in the future.
Recommended: You may read about the Business Model of the refinery company, HMEL.
Conclusion:
You have learned about ONGC Share Price Target 2023, 2024, 2025, 2026, 2027, 2028, 2029, and 2030. This prediction is based on technical and fundamental analysis and past company performance. If you want to invest in ONGC, then before investing, do your research because it is subject to market risks, and a wrong decision can also lead to financial loss. That’s why we suggest you check the stock, gather some information, and then invest when satisfied.
Thank you for reading the full article.
