ONGC shares rise 4% as Jefferies sees shares rallying up to 47%, maintains buy rating
- Posted on January 3, 2025
- By Business News Today
- 3 Views
ONGC shares rise 4% as Jefferies sees shares rallying up to 47%, maintains buy rating
Jefferies stated that the recent 30% drop in ONGC's stock price over the past three months seemed unwarranted, attributing it to a 10% decline in crude oil prices. However, the brokerage firm highlighted that the earnings impact from this decline is minimal, estimating a reduction of only about 2%.
