InvestorQ : what is about the future trend of ONGC share
Kamlesh Khatiwala made post

what is about the future trend of ONGC share

Answer
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Dilmini Mercia answered.
2 weeks ago


It surely looks like the worst may be over for ONGC because the price of crude is already quite low and any bounce in oil prices from these levels should be positive for the company. However, old oil has its limitations and that cannot be set aside.

The bigger problem for ONGC is that over the last 5 years its cash resources have largely depleted due to its cash resources being diverted to acquisitions. That explains a company like Adani Green getting a higher market cap today then ONGC.