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    ONGC   INE213A01029

OIL AND NATURAL GAS CORPORATION LIMITED

(ONGC)
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Delayed NSE India Stock Exchange  -  05/27 07:26:47 am EDT
143.80 INR   -5.33%
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Indian shares drop to over one-week lows on tech slump

01/19/2022 | 05:43am EDT
A man walks past the Bombay Stock Exchange (BSE) building in Mumbai

BENGALURU, Jan 19 (Reuters) - Indian shares closed at their lowest in more than a week on Wednesday as rising bond yields globally sparked a selloff in technology stocks and non-bank lender Bajaj Finance slumped on valuation concerns.

The blue-chip NSE Nifty 50 index fell 0.96% to 17,938.4 and the S&P BSE Sensex dropped 1.1% to 60,098.82.

Stocks in Asia and Europe were also lower as U.S. and European bond yields hit multi-year highs, leaving investors bracing for tighter monetary policy to tame surging inflation.

Higher U.S. yields tend to be make risky assets like emerging market equities less attractive, leading to outflows of funds from the region.

Analysts have also said that Indian equities, which have staged a sharp rally from lows hit in December, would consolidate ahead of the annual budget due next month and look to corporate earnings for further direction.

The Nifty IT index was the worst hit among sub-indexes, tumbling 2.1% to its lowest since late-December. IT major Infosys slid 2.8%.

Heavyweight Bajaj Finance gave up early gains to slump 2.2% as analysts pointed to concerns about steep valuations. The stock had jumped nearly 4% earlier in the session after the lender reported strong results on Tuesday.

Power company JSW Energy jumped 3.3% as its quarterly profit more than doubled.

Oil and gas explorer Oil and Natural Gas Corp climbed nearly 4% as crude prices surged. The Nifty Energy index gained 1%.

Automaker and Nifty component Bajaj Auto rose 1.1% ahead of its quarterly results. (Reporting by Chris Thomas in Bengaluru; editing by Aditya Soni)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
BAJAJ AUTO LIMITED -0.63% 3833.05 End-of-day quote.17.97%
BAJAJ FINANCE LIMITED 2.98% 5993.65 End-of-day quote.-14.09%
INFOSYS LIMITED 2.63% 1461.35 Delayed Quote.-24.57%
JSW ENERGY LIMITED 2.30% 284.2 End-of-day quote.-5.52%
NIFTY 50 1.13% 16352.45 Delayed Quote.-6.82%
NIFTY 500 1.10% 13873.15 Delayed Quote.-8.49%
NIFTY IT 1.33% 28641.6 Delayed Quote.-27.82%
OIL AND NATURAL GAS CORPORATION LIMITED -5.33% 143.8 Delayed Quote.6.67%
SENSEX 30 1.17% 54884.66 Real-time Quote.-6.87%
All news about OIL AND NATURAL GAS CORPORATION LIMITED
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Financials
Sales 2022 5 185 B 66 842 M 66 842 M
Net income 2022 447 B 5 767 M 5 767 M
Net Debt 2022 1 016 B 13 101 M 13 101 M
P/E ratio 2022 4,04x
Yield 2022 9,16%
Capitalization 1 809 B 23 320 M 23 320 M
EV / Sales 2022 0,54x
EV / Sales 2023 0,48x
Nbr of Employees 28 479
Free-Float 30,8%
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Mean consensus BUY
Number of Analysts 22
Last Close Price 143,80 INR
Average target price 222,57 INR
Spread / Average Target 54,8%
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Managers and Directors
Alka Mittal Chairman, MD & Director-Human Resources
Pomila Jaspal Chief Financial Officer & Finance Director
Om Prakash Singh Director, Director-Technical & Field Services
Rajni Kant Secretary & Compliance Officer
Amitava Bhattacharya Independent Non-Executive Director
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