Maharatna PSU Stock to Buy: MOFSL chooses this oil and gas stock for 2-3 days; check out target price

Indian frontline indices saw a muted opening on Tuesday due to volatility in the market. At 12.27 AM, Sensex was at 79,441.66, down 207.27 points or 0.26 per cent and Nifty was down 63.40 points or 0.26 per cent at 24,282.70.

Meanwhile, brokerage Motilal Oswal Financial Services Limited (MOFSL) suggested buying a Maharatna PSU stock from a short-term perspective.

Maharatna PSU stock to buy

MOFSL has recommended buying ONGC shares for the next 2-3 days. The brokerage has given a target of Rs 360. On Monday, August 12, shares of ONGC closed at Rs 341.3 each.

This means the stock can provide returns of up to six per cent from its last closing price.

Today at 12.31 PM, ONGC shares were almost one per cent down and were at Rs 338 apiece.

On Tuesday, trading in ONGC started in the green in a sluggish market. The stock has given around 90 per cent returns in the last one year. So far this year, shares have given 65 per cent returns. At the same time, the stock has given a return of 32 per cent in six months and 28 per cent in three months. The stock has risen about 11 per cent in the last one month. The stock has increased by 12 per cent in 1 week. The 52-week high of the share on BSE is Rs 344.60 and the low is Rs 172.80. The market cap of the company is more than Rs 4.29 lakh crore.