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ONGC Plunges 7%; BSE OIL & GAS Index Down 4.7%
Mon, 5 Aug 11:29

ONGC Plunges 7%; BSE OIL & GAS Index Down 4.7%Image source: DNY59/www.istockphoto.com

ONGC share price has plunged 7% and is presently trading at Rs 308.2.

Meanwhile, the BSE OIL & GAS index is at 30,793.3 (down 4.7%).

Among the top losers in the BSE OIL & GAS index today are GAIL (down 6.5%) and IOC (down 5.2%).

Over the last one year, ONGC has moved up from Rs 176.7 to Rs 308.2, registering a gain of Rs 131.5 (up 74.4%).

On the other hand, the BSE OIL & GAS index has moved up from 19,390.7 to 30,793.3, registering a gain of 58.8% during the last 12 months.

The top gainers among the BSE OIL & GAS index stocks during this same period were HPCL (up 98.9%), GAIL (up 84.2%) and IOC (up 78.8%).

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

What About the Benchmark Indices?

The BSE Sensex is at 78,390.2 (down 3.2%).

The top losers among the BSE Sensex today are Tata Motors (down 6.8%) and Tata Steel (down 5.6%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 23,914.3 (down 3.3%). Tata Motors and Shriram Transport are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,459.3 to 78,390.2, registering a gain of 11,930.9 points (up 18.0%).

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 7.2.

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