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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 post best week since early September as Omicron concerns ebb

01/07/2022 | 05:50am EDT
A bird flies past the Bombay Stock Exchange building in Mumbai

BENGALURU, Jan 7 (Reuters) - Indian shares rose on Friday to post their best week since early September, as banking and energy stocks gained following reduced concerns over the severity of the Omicron coronavirus variant.

Benchmark indexes rose for a fifth session in six, with the NSE Nifty 50 index ending up 0.38% at 17,812.70, and the S&P BSE Sensex rising 0.24% to 59,744.65. Both indexes had slumped more than 1% in the previous session.

The Nifty and the Sensex gained about 2.6% for the week, their best showing since the week ended Sept. 3, 2021.

Global shares largely held their ground with U.S. futures gaining and Asian shares rallying after two days of losses, helping lift sentiment in the domestic market.

Though hospitalization rate and deaths were relatively lower, India reported more than 117,000 COVID-19 cases, a five-fold increase in a week.

In Mumbai, the Nifty Bank Index notched its sixth session of gains in the last seven, closing 0.67% higher. HDFC Life Insurance and ICICI Bank rose 2.1% and 1%, respectively.

The Nifty energy index added 0.89%, with top Indian producer Oil & Natural Gas Corp rising 4.1%.

Oil prices jumped as escalating unrest in Kazakhstan stoked worries that crude supply from the OPEC+ producer group could be disrupted.

Reliance Industries gained 0.8% amid the surge in oil prices and after its retail arm invested $200 million for a stake in online delivery platform Dunzo to get a foothold into the rapidly growing market of superfast dispatch of goods.

Grasim Industries also provided support, ending as the top percentage gainer on the Nifty 50, after brokerage Motilal Oswal upgraded its rating on the textile-to-chemicals maker to "buy," sending its shares up 4.5%

Business process management company Hinduja Global Solutions sank 20% after a special dividend announced by it missed expectations.

(Reporting by Anuron Kumar Mitra in Bengaluru)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
GRASIM INDUSTRIES LIMITED 0.30% 1396.7 Delayed Quote.-14.16%
HDFC LIFE INSURANCE COMPANY LIMITED 1.61% 578.15 End-of-day quote.-10.89%
HINDUJA GLOBAL SOLUTIONS LIMITED 0.42% 893.85 End-of-day quote.-45.88%
ICICI BANK LIMITED 1.55% 739.8 Delayed Quote.-1.57%
LONDON BRENT OIL -0.26% 117.03 Delayed Quote.46.84%
NIFTY 50 1.13% 16352.45 Delayed Quote.-6.82%
NIFTY BANK 2.20% 35613.3 Delayed Quote.-1.09%
OIL AND NATURAL GAS CORPORATION LIMITED -5.33% 143.8 Delayed Quote.6.67%
RELIANCE INDUSTRIES LTD -0.46% 2575.1 Delayed Quote.9.25%
S&P GSCI NATURAL GAS INDEX -3.98% 399.2415 Real-time Quote.141.10%
SENSEX 30 1.17% 54884.66 Real-time Quote.-6.87%
WTI -0.46% 113.342 Delayed Quote.46.90%
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Analyst Recommendations on OIL AND NATURAL GAS CORPORATION LIMITED
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Financials
Sales 2022 5 185 B 66 775 M 66 775 M
Net income 2022 447 B 5 761 M 5 761 M
Net Debt 2022 1 016 B 13 087 M 13 087 M
P/E ratio 2022 4,27x
Yield 2022 8,67%
Capitalization 1 911 B 24 609 M 24 609 M
EV / Sales 2022 0,56x
EV / Sales 2023 0,50x
Nbr of Employees 28 479
Free-Float 30,8%
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Mean consensus BUY
Number of Analysts 22
Last Close Price 151,90 INR
Average target price 222,57 INR
Spread / Average Target 46,5%
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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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