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ONGC Gains 3%; BSE OIL & GAS Index Up 1.5%
Wed, 24 Jul 11:21

ONGC Gains 3%; BSE OIL & GAS Index Up 1.5%Image source: Eoneren/www.istockphoto.com

ONGC share price has zoomed 3% and is presently trading at Rs 322.8.

Meanwhile, the BSE OIL & GAS index is at 30,830.4 (up 1.5%).

Among the top gainers in the BSE OIL & GAS index today are BPCL (up 2.1%) and ADANI TOTAL GAS (up 1.6%).

Over the last one year, ONGC has moved up from Rs 171.0 to Rs 322.8, registering a gain of Rs 151.8 (up 88.8%).

On the other hand, the BSE OIL & GAS index has moved up from 19,266.0 to 30,830.4, registering a gain of 60.0% during the last 12 months.

The top gainers among the BSE OIL & GAS index stocks during this same period were GAIL (up 97.6%), ONGC (up 88.8%) and HPCL (up 74.1%).

Must See: These Segments are Witnessing Incredible Growth with Modi's Push

What About the Benchmark Indices?

The BSE Sensex is at 80,213.1 (down 0.3%).

The top losers among the BSE Sensex today are Bajaj Finance (down 2.5%) and Bajaj Finserv (down 1.9%). The most traded stocks in the BSE Sensex are Tata Steel and ITC.

In the meantime, NSE Nifty is at 24,441.4 (down 0.2%). Tata Consumer Products and Bajaj Finance are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,384.8 to 80,213.1, registering a gain of 13,828.3 points (up 20.8%).

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 7.5.

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