Motilal Oswal Sees 21% Upside in ONGC, Maintains Buy Rating

There is an Indian company called ONGC that finds oil and natural gas deep under the ground and under the sea.

Another company called Motilal Oswal studies big companies and tells people whether buying their shares is a good idea.

Motilal Oswal says ONGC's shares are a good buy, predicting they could go up by about 21% in price.

Last quarter, ONGC made a lot of money, even more than expected.

However, it produced a little less oil and gas than before, which is a small worry.

A newer source of gas from fresh wells is helping the company earn extra money.

ONGC is also drilling a new exploratory well in the deep sea through a project called Samudra Manthan.

One part of the company, called OPaL, is still losing money, which Motilal Oswal says is a concern.

Overall, the expert firm believes ONGC is a good deal, but buying shares still has risks and prices can go up or down.