Sun, Jan 5, 2025 4:02 PM
Mcap of 4 of top-10 most valued firms falls by ₹96,606 crore
A Flip by Shubhangi Gupta
CLSA has reiterated its bullish outlook on ONGC, upgrading the stock to a "high-conviction outperform." CLSA has set a price target of ₹360 per share, indicating a potential upside of nearly 42% from ONGC's closing price on Monday. As many as 20 out of the 30 analysts covering the company have a 'Buy' rating on the stock, five suggest a 'hold' and five have a 'sell' rating, according to Bloomberg.
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Indraprastha Gas Ltd (IGL) shares are expected to rise after Bharat Petroleum Corporation Ltd (BPCL) approved the listing of Maharashtra Natural Gas (MNGL), a joint venture, through an IPO worth over Rs 1,000 crore. Citi Research reiterated its "buy" call on IGL shares with a price target of Rs 450, expecting a 6% upside.
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Benchmark indices Nifty and Sensex snapped their two-day losing streaks on January 7, helped by energy and PSU bank stocks. Given the upbeat sentiment in opening trade, all sectors traded in the positive. Meanwhile, the broader market rallied over a percent each to outperform the frontline indices. This comes just a day after Indian equity markets witnessed a bloodbath at the start of the week.
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