{"id":332246,"date":"2026-10-29T14:21:01","date_gmt":"2026-10-29T08:51:01","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=332246"},"modified":"2026-10-29T14:21:01","modified_gmt":"2026-10-29T08:51:01","slug":"ongc-vs-oil-india-after-kotak-raises-fy27-crude-forecast-to-100-dollars-how-each-upstream-stock-reads-the-number","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/ongc-vs-oil-india-after-kotak-raises-fy27-crude-forecast-to-100-dollars-how-each-upstream-stock-reads-the-number\/","title":{"rendered":"ONGC vs Oil India After Kotak Raises FY27 Crude Forecast to $100: How Each Upstream Stock Reads the Number"},"content":{"rendered":"

Kotak Institutional Equities raised its FY27 crude oil forecast to $100 a barrel from $90 on 29 Oct 2026, keeping $75 for FY28; at 2:13 PM IST ONGC traded at Rs 225.08 (up 0.08%) and Oil India at Rs 451.80 (up 0.96%), and in Q1 FY27 ONGC’s standalone profit rose 112% while Oil India’s standalone profit rose about 253%.<\/em><\/p>\n

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Quick Answer<\/strong><\/p>\n

ONGC vs Oil India looks similar on crude prices, but the two companies reached different Q1 FY27 results. ONGC earned a standalone profit of Rs 17,034 crore on a net crude realisation of $99.45 a barrel, yet its consolidated profit was only Rs 6,554 crore because subsidiary HPCL lost Rs 12,265 crore. Oil India earned a standalone profit of Rs 2,870 crore, with crude production up about 11%. Kotak’s forecast of $100 for FY27 supports upstream earnings, but it is a forecast and not a certainty, and this article is educational and not a recommendation.<\/p>\n<\/p><\/div>\n

When crude rises, investors often group ONGC and Oil India together. This article compares ONGC vs Oil India on what Kotak’s new forecast says, how each company’s Q1 FY27 numbers differ, how the two are valued, what brokerages have said, and which risks sit outside crude prices, using prices at 2:13 PM IST.<\/p>\n

Three flags. Oil India’s consolidated profit appears as Rs 4,026.83 crore in one report and Rs 3,629.79 crore in another. Brokerage targets for ONGC vs Oil India date from 10 September and 21 October, before Q2 results, which neither company has announced yet. Kotak’s note as I read it gives no ONGC or Oil India targets, so none are attributed to it. It is educational and not advice.<\/p>\n

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