ONGC Dividend 2024: Nifty 50 stock to pay 50% cash reward - BUY, SELL or Hold?
ongc dividend 2024: nifty 50 stock to pay 50% cash reward - buy, sell or hold?
ONGC Share Price: Technical analyst and ET NOW panellist Nooresh Merani has initiated a BUY coverage on the shares of Oil and Natural Gas Corporation (ONGC) Limited. Recently, the company signed an agreement with Indian Oil Corporation to set up a small-scale liquefied natural gas plant near the Hatta gas field in Madhya Pradesh.
Shares of ONGC Limited opened in green on Monday at Rs 275 vs the previous closure of Rs 274.20. At the time of writing this report i.e. around 12:02 pm, shares of the state-run company traded in red at Rs 273.25, down by 0.35 per cent. More than 52.27 lakh equity shares changed hands at the same time.
ONGC Final Dividend 2024 Announcement
ONGC has announced a 50 per cent dividend payment on each stock for the financial year 2023-24. This translates into Rs 2.50 per equity share of the face value of Rs 5 each. The company hasn’t fixed the ex-date, record date, and payment date.
ONGC Share Price Target 2024
Market analyst Nooresh Merani has advised investors to ‘BUY’ the shares of this state-run oil exploration and production company. The expert has maintained that the target price for the stock is Rs 300 apiece. He has also set the stop loss for the stock at Rs 265 apiece.
ONGC Share Price History
ONGC is a component of the BSE 100. According to BSE analytics (as of July 1), shares of ONGC Limited rose by 1.59 per cent and 3.57 per cent in the last 1 week and 1 month, respectively. On a YTD basis, shares of the state-run company gave a positive return of 33.50 per cent. In the past 1 year, 2 years, 3 years, and 5 years, shares of the PSU company gained by 71.04 per cent, 108.92 per cent, 130.45 per cent, and 70.13 per cent, respectively.
ONGC Dividend History
In 2024, ONGC paid a dividend of Rs 4 in February. Last year, the state-run company announced a dividend on three occasions – Rs 4 in February, Re 0.50 in August, and Rs 5.75 in November. In 2022, the PSU declared a dividend of Rs 6.75 in November.