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F-14/15, Orbit Mall, Civil Lines, Jaipur-302006 support@thetaxheaven.comOil and Natural Gas Corporation Ltd (ONGC) is India’s largest crude oil and natural gas exploration and production company and a cornerstone of the country’s energy security. As a Maharatna PSU, ONGC plays a critical role in upstream oil & gas production, while also benefiting from strong government backing, robust cash flows, and high dividend payouts.
With rising global energy demand, improving crude oil realizations, and ongoing capital investments in exploration and production, ONGC remains a key long-term stock for income-focused and value investors. In this article, we analyze ONGC share price targets from 2026 to 2030 based on current market data, business fundamentals, sector outlook, and long-term growth drivers.
| Detail | Value |
|---|---|
| Open | ₹231.75 |
| Previous Close | ₹232.21 |
| Day’s High | ₹233.42 |
| Day’s Low | ₹228.61 |
| VWAP | ₹232.04 |
| Volume | 41,03,581 |
| Value (Lacs) | 9,524.41 |
| Market Capitalization | ₹2,91,988 Cr |
| Beta | 1.08 |
| 52-Week High | ₹273.50 |
| 52-Week Low | ₹205.00 |
| All-Time High | ₹345.00 |
| All-Time Low | ₹10.46 |
| UC Limit | ₹255.43 |
| LC Limit | ₹208.99 |
| Face Value | ₹5 |
| Book Value Per Share | ₹280.02 |
| Dividend Yield | 5.28% |
| 20D Avg Volume | 77,80,081 |
| 20D Avg Delivery (%) | 65.23% |
| Investor Type | Holding (%) |
|---|---|
| Promoters | 58.89% |
| Retail & Others | 14.17% |
| Other Domestic Institutions | 11.35% |
| Mutual Funds | 8.60% |
| Foreign Institutions | 6.98% |
The shareholding structure reflects strong government ownership and healthy institutional participation, indicating stability and long-term investor confidence.
ONGC is India’s dominant upstream oil and gas company, contributing a major share of the country’s domestic crude oil and natural gas production. The company operates across onshore and offshore fields and has overseas assets through its subsidiary ONGC Videsh.
Key business segments include:
Crude oil exploration and production
Natural gas exploration and production
Overseas oil & gas assets
Strategic investments in energy infrastructure
ONGC’s performance is closely linked to global crude oil prices, domestic energy demand, and government energy policies.
Market leader in India’s upstream oil & gas sector
Strong balance sheet with high book value
Consistent and attractive dividend yield
Government backing as a Maharatna PSU
Long-term energy demand supporting revenue stability
| Year | Minimum Target (₹) | Maximum Target (₹) |
|---|---|---|
| 2026 | 260 | 300 |
| 2027 | 290 | 340 |
| 2028 | 330 | 390 |
| 2029 | 380 | 450 |
| 2030 | 430 | 520 |
These projections consider stable crude oil prices, consistent production levels, strong cash flows, and continued dividend payouts.
By 2026, ONGC is expected to benefit from steady crude oil prices and improved realizations from gas production.
Growth Drivers
Stable upstream production
Strong operating margins
Continued dividend income
Investment View: Suitable for conservative and income-focused investors.
2027 may reflect improved operational efficiency and better monetization of domestic energy assets.
Growth Drivers
Rising natural gas demand
Cost optimization in exploration
Healthy free cash flows
Investment View: Ideal for medium- to long-term value investors.
With sustained global energy demand, ONGC’s valuation could re-rate closer to its book value.
Growth Drivers
Higher crude realizations
Strategic capex in exploration
Improved return ratios
Investment View: Strong defensive stock during volatile markets.
By 2029, ONGC may benefit from energy security initiatives and increased domestic production focus.
Growth Drivers
Energy transition support from government
Long-life oil & gas assets
Continued dividend strength
Investment View: Favors long-term investors seeking stability and yield.
By 2030, ONGC could emerge as a stable cash-generating energy giant with strong valuation support.
Growth Drivers
Sustained oil & gas demand
Strong book value support
Consistent PSU re-rating
Investment View: Suitable for long-term wealth preservation with income generation.
High dividend yield of 5%+
Strong book value support
Government-backed stability
Dominant position in upstream energy
Volatility in global crude oil prices
Government intervention in pricing
Energy transition reducing long-term fossil fuel demand
Currency fluctuations impacting overseas assets
Oil and Natural Gas Corporation Ltd remains one of India’s most stable and reliable energy stocks. With strong fundamentals, attractive dividends, and a dominant upstream position, ONGC continues to be a preferred choice for long-term value and income investors.
Based on current trends and sector outlook, ONGC share price could reach ₹430 – ₹520 by 2030, supported by steady cash flows, strong balance sheet fundamentals, and consistent dividend payouts.
ONGC is trading around ₹231–₹232 as per the latest market data.
The expected target range for 2026 is ₹260 – ₹300.
Yes, especially for investors seeking stability, dividends, and value exposure.
The projected range for 2030 is ₹430 – ₹520.
Global crude oil prices, government policies, production volumes, and dividend announcements.
Disclaimer: This article is for educational purposes only and should not be considered investment advice. Please consult a certified financial advisor before making investment decisions.
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