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ONGC Plunges 3%; BSE OIL & GAS Index Down 1.8%
Mon, 7 Oct 11:30

ONGC Plunges 3%; BSE OIL & GAS Index Down 1.8%Image source: phive2015/www.istockphoto.com

ONGC share price has plunged 3% and is presently trading at Rs 285.4.

Meanwhile, the BSE OIL & GAS index is at 29,953.1 (down 1.8%).

Among the top losers in the BSE OIL & GAS index today are GUJARAT GAS (down 2.7%) and HPCL (down 2.6%).

Over the last one year, ONGC has moved up from Rs 184.6 to Rs 285.4, registering a gain of Rs 100.8 (up 54.6%).

On the other hand, the BSE OIL & GAS index has moved up from 18,778.0 to 29,953.1, registering a gain of 59.5% during the last 12 months.

The top gainers among the BSE OIL & GAS index stocks during this same period were HPCL (up 133.7%), BPCL (up 98.0%) and IOC (up 83.5%).

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What About the Benchmark Indices?

The BSE Sensex is at 81,496.7 (down 0.2%).

The top losers among the BSE Sensex today are MUNDRA PORT & SEZ (down 3.8%) and NTPC (down 2.9%). The most traded stocks in the BSE Sensex are Tata Steel and Bharti Airtel.

In the meantime, NSE Nifty is at 24,956.2 (down 0.2%). MUNDRA PORT & SEZ and Coal India are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,512.1 to 81,496.7, registering a gain of 15,984.6 points (up 24.4%).

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 2024, ONGC reported 67.7% increase in net profit to Rs 571,008 million compared to net profit of Rs 340,465 million during FY23. Revenue of the company fell 6.9% to Rs 5,398,572 million during FY24.

The current Price to earnings ratio of ONGC, based on rolling 12 month earnings, stands at 7.6.


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