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    ONGC   INE213A01029

OIL AND NATURAL GAS CORPORATION LIMITED

(ONGC)
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Indian shares hemmed in tight range as energy stocks negate auto losses

09/21/2021 | 01:33am EDT

BENGALURU, Sept 21 (Reuters) - Indian shares were stuck in a tight range on Tuesday as gains in some energy and consumer goods stocks countered losses in auto scrips, while increasing worries China Evergrande could default on its massive debt pile kept markets under pressure globally.

The blue-chip NSE Nifty 50 index eased 0.03% to 17,391.55 by 0500 GMT, and the benchmark S&P BSE Sensex slipped 0.05% to 58,462.56.

On Monday, Indian shares dropped 1% as metal stocks plunged more than 6% and fears of a default by property giant China Evergrande rattled world equity markets. On Tuesday, metal stocks were trading 0.2% higher.

Investors are now awaiting cues on the U.S. monetary policy from a Federal Reserve meeting starting later in the day. The central bank is likely to lay the groundwork for an eventual tapering of its bond buying programme.

Auto stocks fell to their lowest in more than a week, with carmaker Maruti Suzuki India shedding 2.6%.

Banks dropped 1% in their second straight sessions of falls, with Central Bank Ltd declining 2.3%.

State-owned explorer Oil and Natural Gas Corp jumped more than 3% to be the top gainer on the Nifty 50 index, while Hindustan Unilever advanced 1.7% to help the consumer goods sub-index advance 0.5%.

Real estate stocks climbed after two straight sessions of losses and were the best performing sector, with Godrej Properties advancing more than 5% to lead the gains.

Signs of a rebound in sales for home builders and the easing of COVID-19 restrictions lifted sentiment in the sector, said Ajit Mishra, vice president of research at Religare Broking.

In broader Asia, markets were jittery amid fears of a China Evergrande default rippling through the Chinese property market, while trading was thin due to holidays in China, Taiwan and South Korea. (Reporting by Soumyajit Saha in Bengaluru; Editing by Subhranshu Sahu)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
CENTRAL BANK OF INDIA 2.22% 23 End-of-day quote.66.06%
CHINA EVERGRANDE GROUP -12.54% 2.58 End-of-day quote.-82.68%
GODREJ PROPERTIES LIMITED 2.82% 2344.15 Delayed Quote.59.40%
HINDUSTAN UNILEVER LIMITED -1.35% 2445.85 End-of-day quote.2.19%
LONDON BRENT OIL -0.04% 84.46 Delayed Quote.64.56%
MARUTI SUZUKI INDIA LTD -1.59% 7450.65 Delayed Quote.-0.97%
NSE 0.00% 16 Real-time Quote.30.08%
OIL AND NATURAL GAS CORPORATION LIMITED 1.39% 156.9 Delayed Quote.66.58%
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Analyst Recommendations on OIL AND NATURAL GAS CORPORATION LIMITED
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Financials
Sales 2022 4 439 B 59 336 M 59 336 M
Net income 2022 277 B 3 704 M 3 704 M
Net Debt 2022 1 109 B 14 824 M 14 824 M
P/E ratio 2022 7,38x
Yield 2022 4,93%
Capitalization 1 950 B 26 053 M 26 065 M
EV / Sales 2022 0,69x
EV / Sales 2023 0,60x
Nbr of Employees 28 479
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
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 25
Last Close Price 155,00 INR
Average target price 167,64 INR
Spread / Average Target 8,15%
EPS Revisions
Managers and Directors
Subhash Kumar Chairman, CEO, MD & Finance Director
Vivek Chandrakant Tongaonkar Chief Financial Officer
Om Prakash Singh Director, Director-Technical & Field Services
Rajni Kant Secretary & Compliance Officer
Amitava Bhattacharya Independent Non-Executive Director
Sector and Competitors