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ONGC Gains 3%; BSE OIL & GAS Index Up 0.2%
Thu, 18 Jul 9:52

ONGC Gains 3%; BSE OIL & GAS Index Up 0.2%Image source: ipopba/www.istockphoto.com

ONGC share price has zoomed 3% and is presently trading at Rs 329.6.

Meanwhile, the BSE OIL & GAS index is at 31,782.6 (up 0.2%).

Among the top gainers in the BSE OIL & GAS index today are Indraprastha Gas (up 1.6%) and HPCL (up 1.2%).

ADANI TOTAL GAS (down 1.3%) and GAIL (down 0.9%) are among the top losers today.

Over the last one year, ONGC has moved up from Rs 166.3 to Rs 329.6, registering a gain of Rs 163.3 (up 98.2%).

On the other hand, the BSE OIL & GAS index has moved up from 19,137.2 to 31,782.6, registering a gain of 66.1% during the last 12 months.

The top gainers among the BSE OIL & GAS index stocks during this same period were GAIL (up 112.7%), ONGC (up 98.2%) and HPCL (up 84.6%).

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

What About the Benchmark Indices?

The BSE Sensex is at 80,558.4 (down 0.2%).

The top losers among the BSE Sensex today are Asian Paints (down 1.7%) and Tata Steel (down 1.2%). The most traded stocks in the BSE Sensex are Tata Steel and NTPC.

In the meantime, NSE Nifty is at 24,647.9 (up 0.1%). LTIMINDTREE and Axis Bank are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,589.9 to 80,558.4, registering a gain of 13,968.5 points (up 21.0%).

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 7.7.

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