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ONGC Gains 6%; BSE OIL & GAS Index Up 1.9%
Tue, 11 Jun 14:27

ONGC share price has zoomed 6% and is presently trading at Rs 273.5.

Meanwhile, the BSE OIL & GAS index is at 29,079.8 (up 1.9%).

Among the top gainers in the BSE OIL & GAS index today are Petronet LNG (up 3.4%) and GUJARAT GAS (up 3.4%).

ADANI TOTAL GAS (down 1.2%) and Reliance Ind. (down 0.6%) are among the top losers today.

Over the last one year, ONGC has moved up from Rs 154.1 to Rs 273.5, registering a gain of Rs 119.5 (up 77.5%).

On the other hand, the BSE OIL & GAS index has moved up from 18,081.5 to 29,079.8, registering a gain of 60.8% during the last 12 months.

The top gainers among the BSE OIL & GAS index stocks during this same period were GAIL (up 101.2%), HPCL (up 90.2%) and IOC (up 85.2%).

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

What About the Benchmark Indices?

The BSE Sensex is at 76,584.2 (up 0.1%).

The top gainers among the BSE Sensex today are L&T (up 2.3%) and Maruti Suzuki (up 1.5%). The most traded stocks in the BSE Sensex are Tata Steel and SBI.

In the meantime, NSE Nifty is at 23,337.6 (up 0.3%). L&T and MUNDRA PORT & SEZ are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 63,143.0 to 76,584.2, registering a gain of 13,441.2 points (up 21.3%).

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 6.4.

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