ONGC Share Price Target Raised to Rs 288 as Motilal Oswal Upgrades Stock to Buy on Attractive Valuations

ONGC share price rose 2.65 percent to Rs 244.10 on 6 July 2026 after Motilal Oswal Financial Services upgraded the state owned explorer to a buy rating, raising the ONGC share price target to Rs 288. The brokerage’s upgrade is driven by attractive valuations, an improving production outlook and continued government support for the sector.

MOSL has also raised its Brent crude price assumptions to $84.20 per barrel for FY27 and $75 per barrel for FY28, expecting crude inventories to remain tight globally, a dynamic the brokerage believes will support higher oil prices going forward.

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About ONGC

Oil and Natural Gas Corporation is India’s largest state owned crude oil and natural gas exploration and production company, holding a dominant share of India’s domestic hydrocarbon output across onshore and offshore fields.

Why This ONGC Share Price Target Is in Focus

The ONGC share price target of Rs 288 from Motilal Oswal is in focus because it marks a rating upgrade to buy, a meaningful shift in the brokerage’s stance on the stock. Investors tracking ONGC share price can view live quotes and fundamentals on the Univest stock page for ONGC before assessing the upgrade.

Attractive Valuations Drive the Upgrade

MOSL’s upgrade is driven by a combination of factors: attractive valuations at current levels, an improving production outlook for the company’s domestic fields, and continued government support for the upstream oil and gas sector, all of which the brokerage believes justify a more constructive stance on the stock.

Raised Brent Crude Assumptions

Motilal Oswal has raised its Brent crude assumptions to $84.20 per barrel for FY27 and $75 per barrel for FY28, reflecting the brokerage’s expectation that crude inventories will remain tight, supporting higher oil prices over the brokerage’s forecast horizon, a direct positive for ONGC’s realisations on its crude output.

ONGC Share Price Target: MOSL Note Summary

The table below summarises the key points from Motilal Oswal’s upgrade note.

Parameter	Detail
Rating	Upgraded to Buy
Target Price	Rs 288
FY27 Brent Assumption	$84.20/barrel
FY28 Brent Assumption	$75/barrel
Key Drivers	Valuations, production outlook, government support

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ONGC Share Price Today and Recent Performance

ONGC share price touched an intraday high of Rs 244.40 and a low of Rs 236.95 during the session. Trading volumes stood at 488,459 shares, compared to the five day average of 1,802,917 shares, a decrease of 72.91 percent, even as the stock gained ground on the back of the upgrade.

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What This Target Means for ONGC

MOSL’s upgrade to buy alongside raised Brent crude assumptions signals the brokerage sees a favourable combination of valuation support and improving commodity price tailwinds for ONGC heading into FY27 and FY28. Investors should watch actual crude price trends closely, since ONGC’s earnings remain highly sensitive to realised oil prices, and any deviation from the brokerage’s raised Brent assumptions would directly affect the investment thesis.

Conclusion

The ONGC share price target has been raised to Rs 288 by Motilal Oswal, which upgraded the stock to buy citing attractive valuations and a tighter global crude oil supply outlook. The stock was trading around Rs 244.10 during the session, up 2.65 percent. Track crude oil price trends for confirmation and consult a SEBI registered advisor before making any investment decision.

Frequently Asked Questions on ONGC Share Price Target

What is the new ONGC share price target from Motilal Oswal?

Ans. Motilal Oswal has set an ONGC share price target of Rs 288, upgrading its rating on the stock to buy from its previous stance.

Why did MOSL upgrade ONGC to a buy rating?

Ans. MOSL’s upgrade is driven by attractive valuations, an improving production outlook for ONGC’s domestic fields, and continued government support for the upstream oil and gas sector.

What are MOSL’s Brent crude price assumptions for ONGC?

Ans. Motilal Oswal has raised its Brent crude assumptions to $84.20 per barrel for FY27 and $75 per barrel for FY28, expecting crude inventories to remain tight.

What was ONGC share price on 6 July 2026?

Ans. ONGC share price was quoting at Rs 244.10, up 2.65 percent, after touching an intraday high of Rs 244.40 and a low of Rs 236.95.

How sensitive is ONGC to crude oil prices?

Ans. ONGC’s earnings are highly sensitive to realised crude oil prices, making the brokerage’s raised Brent assumptions a key factor underpinning its buy rating and Rs 288 target.

Should investors buy ONGC at this share price target?

Ans. This article does not constitute investment advice. Brokerage targets depend on assumptions like crude oil prices that can change. Review the company’s financials and consult a SEBI registered financial advisor before making any investment decision.