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    ONGC   INE213A01029

OIL AND NATURAL GAS CORPORATION LIMITED

(ONGC)
  Report
Delayed NSE India Stock Exchange  -  02:23 2022-10-04 am EDT
132.80 INR   +0.30%
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Indian shares on track for fourth week of gains; inflation data watched

08/12/2022 | 01:28am EDT

BENGALURU, Aug 12 (Reuters) - Indian shares steadied on Friday and were on track to end higher for a fourth straight week driven by strength in metal stocks, while investors awaited domestic inflation data for July due later.

The NSE Nifty 50 index was up 0.01% at 17,660.45, as of 0425 GMT, and the S&P BSE Sensex fell 0.02% to 59,319.41.

Technology stocks weighed on the market, although the benchmark indexes were on their way to register the longest winning streak since January.

In the past four weeks and including Friday's session, both the BSE Sensex and NSE climbed over 5%, and were up nearly 1.8% year-to-date, data showed.

Markets were shut on Tuesday for a local holiday.

Market participants watched for Consumer Price Index (CPI) data scheduled after market close.

A Reuters poll showed India's retail inflation likely eased in July due to a fall in food and fuel prices but stayed well above the Reserve Bank of India's upper tolerance limit of 6% for a seventh consecutive month.

In Mumbai trading, Nifty's metal index and energy index climbed 1.84% and 1.16%, respectively, while IT index declined 0.75%.

Among top-performers on the Nifty 50, state-owned oil producer Oil and Natural Gas Corp climbed nearly 4% ahead of its quarterly earnings results and Tata Steel advanced 2.4%.

Apollo Hospitals Enterprise dropped 2.4%. The company late on Thursday reported a 35% fall in quarterly profit. (https://bit.ly/3QAv86Y)

"The Nifty would see some kind of profit booking attempts ahead of a long weekend and as it gained almost 1500 points in last eight trading session," said Prashanth Tapse, research analyst at Mehta Equities.

Indian markets will be closed on Monday.

Broader Asian equities tracked Wall Street's overnight weakness as investors were jittery over uncertainty around the pace of interest rate hikes by the Federal Reserve to tackle inflation despite some softness last month. (Reporting by Rama Venkat in Bengaluru; Editing by Dhanya Ann Thoppil and Neha Arora)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
APOLLO HOSPITALS ENTERPRISE LIMITED 1.03% 4406.7 Delayed Quote.-12.57%
INFOSYS LIMITED 2.30% 1426.85 Delayed Quote.-25.13%
LONDON BRENT OIL 0.59% 89.25 Delayed Quote.9.50%
NIFTY 50 1.97% 17222.8 Delayed Quote.-1.50%
OIL AND NATURAL GAS CORPORATION LIMITED 0.34% 132.8 Delayed Quote.-10.96%
S&P GSCI NATURAL GAS INDEX 0.34% 303.9611 Real-time Quote.81.39%
SENSEX BSE30 -1.11% 56788.81 Real-time Quote.-2.51%
TATA CONSULTANCY SERVICES LTD. 2.88% 3071.3 Delayed Quote.-19.63%
TATA STEEL LIMITED -1.01% 98.3 End-of-day quote.-11.56%
WIPRO LIMITED 0.05% 394.5 End-of-day quote.-44.84%
WTI 0.69% 83.889 Delayed Quote.8.90%
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Analyst Recommendations on OIL AND NATURAL GAS CORPORATION LIMITED
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Financials
Sales 2023 6 250 B 76 639 M 76 639 M
Net income 2023 492 B 6 039 M 6 039 M
Net Debt 2023 770 B 9 439 M 9 439 M
P/E ratio 2023 3,35x
Yield 2023 10,4%
Capitalization 1 666 B 20 425 M 20 425 M
EV / Sales 2023 0,39x
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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TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 23
Last Close Price 132,40 INR
Average target price 171,32 INR
Spread / Average Target 29,4%
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-10.96%20 425
CONOCOPHILLIPS52.36%130 282
EOG RESOURCES, INC.35.01%65 479
OCCIDENTAL PETROLEUM CORPORATION111.97%57 085
CNOOC LIMITED17.19%57 051
CANADIAN NATURAL RESOURCES LIMITED20.30%52 520