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ONGC Gains 6%; BSE OIL & GAS Index Up 3.1%
Wed, 7 Aug 9:58

ONGC Gains 6%; BSE OIL & GAS Index Up 3.1%Image source: DNY59/www.istockphoto.com

ONGC share price has zoomed 6% and is presently trading at Rs 324.4.

Meanwhile, the BSE OIL & GAS index is at 31,783.5 (up 3.1%).

Among the top gainers in the BSE OIL & GAS index today are GAIL (up 3.0%) and IOC (up 2.4%).

GUJARAT GAS (down 1.1%) is among the top losers today.

Over the last one year, ONGC has moved up from Rs 173.0 to Rs 324.4, registering a gain of Rs 151.5 (up 87.6%).

On the other hand, the BSE OIL & GAS index has moved up from 18,945.7 to 31,783.5, registering a gain of 67.8% during the last 12 months.

The top gainers among the BSE OIL & GAS index stocks during this same period were HPCL (up 121.4%), GAIL (up 101.6%) and BPCL (up 89.9%).

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

What About the Benchmark Indices?

The BSE Sensex is at 79,254.5 (up 0.8%).

The top gainers among the BSE Sensex today are MUNDRA PORT & SEZ (up 2.0%) and M&M (up 2.0%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 24,216.1 (up 0.9%). Coal India and BPCL are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,953.5 to 79,254.5, registering a gain of 13,301.0 points (up 20.2%).

ONGC Financial Update...

ONGC net profit fell 42.3% YoY to Rs 100,206 million for the quarter ended June 2024, compared to a profit of Rs 173,677 million a year ago. Net sales rose 1.7% to Rs 1,665,768 million during the period as against Rs 1,638,236 million in April-June 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 8.7.

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