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    ONGC   INE213A01029

OIL AND NATURAL GAS CORPORATION LIMITED

(ONGC)
  Report
Delayed NSE India Stock Exchange  -  06:25 2022-12-08 am EST
142.65 INR   +1.42%
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INDIA STOCKS-Indian shares rise as banks, energy surge on RBI rate hike

09/30/2022 | 01:40am EST

BENGALURU, Sept 30 (Reuters) -

Indian shares rose on Friday, led by gains in banks and energy stocks, as investors assessed comments of the country's central bank after it hiked a key policy rate for the fourth straight time, on expected lines, to bring down persistently high inflation.

The NSE Nifty 50 index rose 0.9% to 16,964, as of 0519 GMT, and the S&P BSE Sensex gained 0.95% to 56,935. The indexes had taken a pause ahead of the policy announcement as investors remained circumspect.

The Reserve Bank of India raised the key policy repo rate by 50 basis points–inline with economists expectations–on Friday and said it will stay focussed on withdrawal of monetary accommodation.

The central bank's monetary policy committee (MPC) has hiked the key policy rate by 190 bps since May to 5.9% to cool off domestic retail inflation that has stayed sticky above the RBI's tolerance limit of 6% since January.

"Going forward, the domestic policy may continue to be driven by the global monetary tightening cycle and aggressive stance of (U.S.) Federal Reserve reducing our degrees of freedom," said Garima Kapoor, economist, institutional equities at Elara Capital.

The rate sensitive Nifty bank index rose 1.9%, while the financial index gained 1.6% and the energy index added 1.4%.

Shares of Oil & Natural Gas Corp rose 3.4% and was the top gainer in Nifty 50 index after the RBI said Indian crude oil basket average was projected around $100 a barrel in second half of the year

RBI, which has spent massive amounts of forex reserves to arrest the currency's fall against the strong U.S. dollar, said that the context of adequacy of foreign exchange reserves is always kept in mind while intervening.

The RBI signalled that foreign exchange interventions are likely to continue to defend any extreme volatility in the rupee, said Sakshi Gupta, principal economist at HDFC Bank. (Reporting by Rama Venkat and Nallur Sethuraman in Bengaluru; Editing by Dhanya Ann Thoppil and Savio D'Souza)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
BANK OF INDIA LIMITED 7.97% 100.25 End-of-day quote.95.23%
BRENT OIL -1.11% 76.45 Delayed Quote.2.29%
FSN E-COMMERCE VENTURES LIMITED 0.23% 173.05 Delayed Quote.-50.71%
HDFC BANK LIMITED 0.56% 1619.5 Delayed Quote.8.86%
NIFTY 50 0.26% 18609.35 Delayed Quote.6.95%
NIFTY BANK -0.09% 43596.85 Delayed Quote.21.47%
OIL AND NATURAL GAS CORPORATION LIMITED 1.42% 142.65 Delayed Quote.-1.23%
S&P GSCI NATURAL GAS INDEX 3.57% 276.4866 Real-time Quote.45.92%
SENSEX BSE30 0.26% 62570.68 Real-time Quote.7.14%
WTI -0.80% 71.942 Delayed Quote.-1.19%
All news about OIL AND NATURAL GAS CORPORATION LIMITED
12/07Oil & Natural Gas Gets New Chairman
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12/07ONGC Appoints Arun Kumar Singh as Managing Director
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11/30Indian govt panel favours ending control on pricing of gas from old blocks from 2027
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Analyst Recommendations on OIL AND NATURAL GAS CORPORATION LIMITED
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Financials
Sales 2023 6 656 B 80 856 M 80 856 M
Net income 2023 470 B 5 715 M 5 715 M
Net Debt 2023 865 B 10 510 M 10 510 M
P/E ratio 2023 3,80x
Yield 2023 10,8%
Capitalization 1 795 B 21 801 M 21 801 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
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TrendsBullishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 24
Last Close Price 142,65 INR
Average target price 174,28 INR
Spread / Average Target 22,2%
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
1st jan.Capi. (M$)
OIL AND NATURAL GAS CORPORATION LIMITED-1.23%21 495
CHEVRON CORPORATION46.58%333 591
CONOCOPHILLIPS59.16%143 149
EOG RESOURCES, INC.42.02%74 105
CANADIAN NATURAL RESOURCES LIMITED40.37%60 883
CNOOC LIMITED23.79%60 725