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    ONGC   INE213A01029

OIL AND NATURAL GAS CORPORATION LIMITED

(ONGC)
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Indian shares flat as energy gains offset losses in financials

06/01/2021 | 06:36am EDT

BENGALURU, June 1 (Reuters) - Indian shares' recent rally was stalled on Tuesday, as gains in energy stocks, amid optimism from declining daily cases of COVID-19, were offset by losses in materials and financials.

The blue-chip NSE Nifty 50 index closed 0.05% lower at 15,574.85, while the benchmark S&P BSE Sensex was unchanged. Both the indexes closed 1% higher on Monday, building up on gains posted last week.

"We feel that the market has had a one-way run up and today it is pausing for breath and we can see a small correction around here because market has been moving up continuously for the last seven to eight trading sessions," said Samrat Dasgupta, chief executive of Esquire Capital Investment Advisors.

The market is also looking at an optimistic scenario as the economy unlocks, expecting things will return to normal in the next three to four months, he added.

Energy stocks gained after Brent crude prices topped $70 and traded at their highest since March, as optimism grew over the fuel demand outlook.

Reliance Industries Ltd and explorer Oil and Natural Gas Corporation Ltd were among the top boosts to the Nifty 50, rising 0.40% and 3.5%, respectively.

Investor sentiment has improved in recent days due to a steady decline in daily COVID-19 cases. The country on Tuesday reported its lowest daily increase in new infections since April 8 at 127,510, staying below the 200,000-mark for a fifth straight day.

Meanwhile, India's GDP picked up at 1.6% year-on-year in the January-March quarter, better than the 1.0% growth forecast by analysts in a Reuters poll. Economists, however, are pessimistic about the current quarter after a huge second wave of COVID-19 infections hit the country last month. (Reporting by Rama Venkat in Bengaluru; Editing by Vinay Dwivedi)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
LONDON BRENT OIL 1.74% 76.1 Delayed Quote.44.56%
NIFTY 50 0.44% 15778.45 Delayed Quote.12.36%
OIL AND NATURAL GAS CORPORATION LIMITED 0.35% 114.75 Delayed Quote.22.89%
RELIANCE INDUSTRIES LTD 0.78% 2053.25 Delayed Quote.2.62%
S&P GSCI BRENT CRUDE INDEX 0.98% 639.4051 Delayed Quote.42.61%
SENSEX 30 0.40% 52653.07 Real-time Quote.9.83%
WTI 1.64% 73.63 Delayed Quote.49.35%
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Financials
Sales 2021 3 191 B 42 977 M 42 977 M
Net income 2021 131 B 1 759 M 1 759 M
Net Debt 2021 983 B 13 245 M 13 245 M
P/E ratio 2021 10,8x
Yield 2021 2,62%
Capitalization 1 444 B 19 441 M 19 444 M
EV / Sales 2021 0,76x
EV / Sales 2022 0,57x
Nbr of Employees 30 105
Free-Float 29,3%
Chart OIL AND NATURAL GAS CORPORATION LIMITED
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Oil and Natural Gas Corporation Limited Technical Analysis Chart | ONGC | INE213A01029 | MarketScreener
Technical analysis trends OIL AND NATURAL GAS CORPORATION LIMITED
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 26
Last Close Price 114,75 INR
Average target price 151,08 INR
Spread / Average Target 31,7%
EPS Revisions
Managers and Directors
Subhash Kumar Chairman, Chief Executive Officer & MD
Vivek Chandrakant Tongaonkar Chief Financial Officer
Om Prakash Singh Director, Director-Technical & Field Services
Rajni Kant Joint Secretary & Compliance Officer
Amitava Bhattacharya Independent Non-Executive Director
Sector and Competitors