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    ONGC   INE213A01029

OIL AND NATURAL GAS CORPORATION LIMITED

(ONGC)
  Report
Delayed NSE India Stock Exchange  -  06:25 2022-12-02 am EST
140.90 INR   +0.61%
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INDIA STOCKS-Indian shares fall as metals, energy slip amid recession woes

09/28/2022 | 01:26am EST

BENGALURU, Sept 28 (Reuters) - Indian shares fell on Wednesday to hover around two-month lows, weighed by banks and energy companies, as risk sentiment weakened over worries of a global recession.

The NSE Nifty 50 index fell 0.4% to 16,940 as of 0503 GMT, while the S&P BSE Sensex was down 0.45% to 56,891.95.

Asian share markets slid on Wednesday as surging borrowing costs fed fears of a global recession, spooking investors into the arms of the safe-haven dollar.

With rising interest rates and bond yields, the investment barrier for equities has risen, said Siddhartha Khemka, head of retail research at Motilal Oswal Financial Services.

Meanwhile, the fear of recession due to very high interest rates is adding pressure, he said.

"While India has been sharply outperforming (global markets), it is not immune to global risks and now there is a bit of catching up, with foreign investors turning huge sellers," Khemka said.

Foreign institutional investors sold a net 28.24 billion Indian rupees ($345.63 million) of Indian equities on Tuesday, while domestic investors purchased 35.05 billion rupees shares, as per provisional data available with the National Stock Exchange.

"Indian equities have shown resilience relative to most of advanced and emerging market peers ... Notably, retail participation continues to increase," State Bank of India’s economic research department said in a note.

The Nifty and Sensex are down over 2% so far this year.

Meanwhile, investors are awaiting monetary policy decision from the Reserve Bank of India, which begins its three-day policy meeting Wednesday.

Ahead of the big RBI event, markets will take precautionary positions, Khemka added.

The metals index was down 0.6%, while the energy index fell 1%.

Sun Pharmaceutical industries was the top Nifty 50 gainer, rising 2%, while Oil & Natural Gas Corp the top loser, falling 2.3%. ($1 = 81.7050 Indian rupees) (Reporting by Nallur Sethuraman in Bengaluru; Editing by Savio D'Souza and Dhanya Ann Thoppil)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) -0.25% 0.6773 Delayed Quote.-6.20%
BANK OF INDIA LIMITED 1.68% 84.5 End-of-day quote.64.56%
BRENT OIL -1.49% 85.9 Delayed Quote.11.95%
BRITISH POUND / US DOLLAR (GBP/USD) -0.28% 1.2256 Delayed Quote.-9.40%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) 0.03% 0.7422 Delayed Quote.-5.91%
EURO / US DOLLAR (EUR/USD) -0.11% 1.05286 Delayed Quote.-7.41%
INDIAN RUPEE / US DOLLAR (INR/USD) -0.11% 0.012284 Delayed Quote.-8.26%
MOTILAL OSWAL FINANCIAL SERVICES LIMITED 0.08% 666.2 Delayed Quote.-27.24%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) -0.63% 0.6368 Delayed Quote.-6.84%
NIFTY 50 -0.62% 18696.1 Delayed Quote.7.73%
OIL AND NATURAL GAS CORPORATION LIMITED 0.61% 140.9 Delayed Quote.-1.05%
S&P GSCI NATURAL GAS INDEX -6.78% 294.0819 Real-time Quote.68.39%
SENSEX BSE30 -0.66% 62868.5 Real-time Quote.7.92%
SUN PHARMACEUTICAL INDUSTRIES LTD. -0.62% 1040 Delayed Quote.22.98%
WTI -1.34% 80.208 Delayed Quote.6.45%
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Analyst Recommendations on OIL AND NATURAL GAS CORPORATION LIMITED
More recommendations
Financials
Sales 2023 6 656 B 81 735 M 81 735 M
Net income 2023 470 B 5 777 M 5 777 M
Net Debt 2023 865 B 10 624 M 10 624 M
P/E ratio 2023 3,75x
Yield 2023 10,9%
Capitalization 1 773 B 21 768 M 21 768 M
EV / Sales 2023 0,40x
EV / Sales 2024 0,41x
Nbr of Employees 27 165
Free-Float 30,8%
Chart OIL AND NATURAL GAS CORPORATION LIMITED
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Oil and Natural Gas Corporation Limited Technical Analysis Chart | MarketScreener
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Technical analysis trends OIL AND NATURAL GAS CORPORATION LIMITED
Short TermMid-TermLong Term
TrendsNeutralNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 24
Last Close Price 140,90 INR
Average target price 174,28 INR
Spread / Average Target 23,7%
EPS Revisions
Managers and Directors
Rajesh Kumar Srivastava Chairman & Managing Director
Pomila Jaspal Chief Financial Officer & Finance Director
Om Prakash Singh Director, Director-Technical & Field Services
Rajni Kant Secretary & Compliance Officer
V. Ajit Kumar Raju Independent Director
Sector and Competitors