Here’s my story of making 23% risk free returns along with thousands of others who bought ONGC on my advice:
During 2020, ONGC was trading at dirt cheap valuations. I called it a shot & loaded it at ₹60. While others were screaming it’ll go to ₹30 because crude traded ‘negative’, I bought courageously to make it my #1 allocation holding.
I asked all my followers too, to buy at 60s. Thousands obediently followed my advice knowing I always have their best interests at heart.
Today ONGC is well above ₹150. Though, let’s not talk about the 150%+ capital gains because we took the risk.
The risk free returns came in terms of ‘lucrative dividends’. Especially, in FY 2022-2023, the company distributed ₹14 of dividends.
That fetched us, risk free dividend yield of 23% (₹14/₹60) ie Dividend/Buying price.
This 23% returns is just for the year 22-23.
For the year 21-22, the company distributed ₹9.1 of dividends. That again gave us a lucrative 15% risk free dividend yield. Again, let’s just not talk about the 150%+ capital gains in these 2 years.
All this without any of us even lifting our fingers.
Today, Ambit initiated a coverage on ONGC with a target price of ₹210 & expect ₹10 DPS (Dividend per share) to continue until 2026.
As this is highly likely to happen, we’d keep enjoying ~17% risk free dividend returns every single year.
God bless those who booked fixed deposits at meagre 7%.
God gave us brains. Earn money wisely.
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