Oil Sector Hidden Gem | Indian Stocks to Make You a Millionaire
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Oil Sector Hidden Gem

Posted By On 11:55 AM Under
1. I am optimistic on the prospects of ONGC as oil prices is spiralling high and thus one can get close to 25% returns which can be called as a risk free returns in the Indian stock market.

2. My faith in ONGC for long term investors stems from the fact that presently stock is trading at a forward P/E valuation of 9.3 times of its FY08E and is trading at 8.1 times of its forward P/E for FY09E.

3. Thus one can safely say that ONGC will have a price of Rs 1236 for FY09E and thus one can get a safe return close to 25 percent in an years time frame.


Happy Long term investing.

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