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ONGC Gains 2%; BSE OIL & GAS Index Up 1.0%
Tue, 2 Jul 9:47

ONGC Gains 2%; BSE OIL & GAS Index Up 1.0%Image source: Chunumunu/www.istockphoto.com

ONGC share price has zoomed 2% and is presently trading at Rs 278.8.

Meanwhile, the BSE OIL & GAS index is at 29,844.9 (up 1.0%).

Among the top gainers in the BSE OIL & GAS index today are ADANI TOTAL GAS (up 2.5%) and Indraprastha Gas (up 2.4%).

HPCL (down 0.5%) and Reliance Ind. (down 0.1%) are among the top losers today.

Over the last one year, ONGC has moved up from Rs 158.3 to Rs 278.8, registering a gain of Rs 120.5 (up 76.1%).

On the other hand, the BSE OIL & GAS index has moved up from 18,084.9 to 29,844.9, registering a gain of 65.0% during the last 12 months.

The top gainers among the BSE OIL & GAS index stocks during this same period were GAIL (up 115.5%), IOC (up 86.1%) and HPCL (up 83.8%).

Dear Reader: If You Invest in Midcap Stocks, this is for You

What About the Benchmark Indices?

The BSE Sensex is at 79,419.7 (down 0.1%).

The top losers among the BSE Sensex today are Kotak Bank (down 1.4%) and Tata Motors (down 1.3%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 24,093.8 (down 0.2%). Kotak Bank and Bajaj Finance are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 63,915.4 to 79,419.7, registering a gain of 15,504.3 points (up 24.3%).

ONGC Financial Update...

ONGC net profit grew 29.3% YoY to Rs 103,489 million for the quarter ended March 2024, compared to a profit of Rs 80,013 million a year ago. Net sales rose 1.6% to Rs 1,667,706 million during the period as against Rs 1,640,667 million in January-March 2023.

For the year ended March 2023, ONGC reported 33.5% decrease in net profit to Rs 327,776 million compared to net profit of Rs 492,941 million during FY22. Revenue of the company grew 28.6% to Rs 5,798,227 million during FY23.

The current Price to earnings ratio of ONGC, based on rolling 12 month earnings, stands at 6.5.

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