Oil and Natural Gas Corporation Ltd up by 10.91 percent | Espresso


Espresso shot of the day – Oil and Natural Gas Corporation Ltd up by 10.91 percent

October 05, 2021
Espresso shot of the day – Oil and Natural Gas Corporation Ltd up by 10.91 percent

OIL AND NATURAL GAS CORPORATION LTD. 163.70 (+10.91 %) BSE – INE213A01029 | 5TH OCTOBER 2021

Maharatna ONGC is the largest crude oil and natural gas company in India, contributing around 71% to Indian domestic production. Crude oil is the raw material used by downstream companies like IOC, BPCL, HPCL and MRPL (latter two being subsidiaries of ONGC) to produce petroleum products like petrol, diesel, kerosene, naphtha, and cooking gas LPG. ONGC has the unique distinction of being a company with in-house service capabilities in all areas of exploration and production of oil & gas and related oil-field services. Winner of the best employer award, this public sector enterprise has a dedicated team of around 28,500 professionals who toil round the clock in challenging locations. ONGC Videsh Limited, a Miniratna Schedule “A” Central Public Sector Enterprise (CPSE) of the Government of India under the administrative control of the Ministry of Petroleum & Natural Gas, is the wholly owned subsidiary and overseas arm of Oil and Natural Gas Corporation Limited (ONGC), the flagship National Oil Company (NOC) of India. The primary business of ONGC Videsh is to prospect for oil and gas acreages outside India, including exploration, development and production of oil and gas. ONGC Videsh owns participating interests in 35 oil and gas assets in 15 countries and produced about 30.3% of oil and 23.7% of oil and natural gas of India’s domestic production in 2019-20. In terms of reserves and production, ONGC Videsh is the second largest petroleum company of India, next only to its parent ONGC.

Recent Drivers

  • On Oct 5, 2021, Oil and Natural Gas Corporation (ONGC) has regained its Rs 2 trillion market capitalisation mark.
  • On Sept 30, 2021, ONGC Videsh Ltd. (OVL) has started exploration in Bangladesh, becoming the first Indian entity to hunt for oil and gas in that country.
  • On Sept 25, 2021, ONGC was expecting an increase in the domestic production of oil and gas as more and more wells in the Krishna-Godavari (KG) basin start production.
  • On Sept 9, 2021, Oil & Natural Gas Corp. was exploring a purchase of a significant minority stake in the USD 4 billion plus Sangomar oil project off the coast of Senegal from Woodside Petroleum Ltd.
  • On Sept 9, 2021, ICRA assigned 'AAA' credit rating for non-convertible debentures (NCD) of Oil & Natural Gas Corp.
  • On Sept 6, 2021, ONGC's plan to complete merger of its refining subsidiary MRPL with recently acquired HPCL to align its upstream and downstream operations into two verticals has been delayed.
(Sources: Moneycontrol, Business Standard, The Times of India, The New Indian Express)

Technical Force*

  • S&P BSE 100 month till date gain up by 0.71%
  • Traded on new 52-week-high value: 164.7
  • Spurt in volume by more than 3.19 times compared to previous vol. | 3 months avg. volume: 14,96,439
  • Quantity traded: 83,27,323 | Deliverable quantity: 17,06,716 (20.5%)
  • Stock price has jumped more than 150% from one-year-low level: 64.15 (Oct 29, 2020)
  • Daily RSI (14) is in Overbought territory today
  • 52-week-high: 164.7 | 52-week-low: 64.15

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Some Key Ratios (Source: BSE)

Market Cap: 2,05,939.17 crores

PE: 13.44

OPM%: 50.11

ROE%: 7.49

Promoters holding%: 60.41

Prev. Close: 147.6

*Chart And Technical Force data taken from the Binge desktop app.

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Chandresh Khona
by Chandresh Khona

Product Offerings Head

A teacher, writer, travel buff and now Espresso's Product Offerings Head. Ten years here has allowed me to lead the digital team at Sharekhan. My true passion lies in stock market charts.