ONGC shares rise 2% despite 18% drop in Q2 profit. Check target price by Nomura, Goldman Sachs
ONGC shares rose up to 2.5% to Rs 255 on Wednesday despite an 18% YoY drop in Q2 profit to Rs 9,848 crore, weighed down by lower oil prices. Revenue slipped 2.5% to Rs 33,031 crore. The company announced an interim dividend of Rs 6 per share, with a total payout of Rs 7,548 crore.
ONGC shares rose up to 2.5% to Rs 255 on Wednesday despite an 18% YoY drop in Q2 profit to Rs 9,848 crore, weighed down by lower oil prices. Revenue slipped 2.5% to Rs 33,031 crore. The company announced an interim dividend of Rs 6 per share, with a total payout of Rs 7,548 crore.
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