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    ONGC   INE213A01029

OIL AND NATURAL GAS CORPORATION LIMITED

(ONGC)
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Indian shares rise on IT, energy boost; earnings, inflation data eyed

11/12/2021 | 12:41am EST

BENGALURU, Nov 12 (Reuters) - Indian shares rose on Friday and headed for weekly gains as IT and energy stocks firmed, while investors awaited a raft of Nifty 50 company earnings and a monthly inflation reading due later in the day.

By 0512 GMT, the blue chip NSE Nifty 50 index rose 0.34% to 17,934.50, while the benchmark S&P BSE Sensex was up 0.27% at 60,081.76.

The Nifty and Sensex, which fell about 0.7% in the previous session on weak global cues following a surprisingly high U.S. inflation reading, are set to rise marginally for the week.

Asian markets were up on Friday, with investors hoping that the worst price hikes could be soon over.

India's October retail inflation report is due at 1200 GMT on Friday, with a Reuters poll forecasting it likely hovered near a six-month low, which would give the central bank room to stay pat on interest rates for now.

"If the inflation reading is within the (Reserve Bank of India's) target range, it could provide some soothing or normalizing effect to the market," said Narendra Solanki, head of equity research (fundamental) at Anand Rathi Investment Services.

In Mumbai trading, the Nifty IT index gained 0.67%, and was on course to snap two straight sessions of losses, as Tech Mahindra added 2.3% and Wipro rose 1.1%.

The Nifty energy index was up 0.59% and on course to notch its sixth session of gains in seven. Oil and gas explorer ONGC gained 0.9% ahead of its quarterly results report.

Traders are also keeping an eye out for earnings results from Hindalco Industries, Coal India, Grasim Industries and Hero MotoCorp due later in the day. (Reporting by Anuron Kumar Mitra in Bengaluru; Editing by Ramakrishnan M.)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
COAL INDIA LIMITED 0.69% 161.65 Delayed Quote.9.93%
GRASIM INDUSTRIES LIMITED 0.59% 1697 Delayed Quote.3.99%
HERO MOTOCORP LIMITED -1.55% 2671.65 End-of-day quote.8.55%
HINDALCO INDUSTRIES LIMITED 0.25% 490.4 End-of-day quote.3.11%
OIL AND NATURAL GAS CORPORATION LIMITED 1.87% 168.8 Delayed Quote.16.36%
TECH MAHINDRA LIMITED -2.42% 1410.65 Delayed Quote.-19.27%
WIPRO LIMITED 1.37% 552.2 End-of-day quote.-22.79%
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Analyst Recommendations on OIL AND NATURAL GAS CORPORATION LIMITED
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Financials
Sales 2022 4 938 B 65 810 M 65 810 M
Net income 2022 368 B 4 905 M 4 905 M
Net Debt 2022 953 B 12 699 M 12 699 M
P/E ratio 2022 5,87x
Yield 2022 5,86%
Capitalization 2 124 B 28 229 M 28 303 M
EV / Sales 2022 0,62x
EV / Sales 2023 0,59x
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 BUY
Number of Analysts 25
Last Close Price 168,80 INR
Average target price 189,32 INR
Spread / Average Target 12,2%
EPS Revisions
Managers and Directors
Alka Mittal Chairman, MD & Director-Human Resources
Anurag Sharma Finance Director & Executive Director
Om Prakash Singh Director, Director-Technical & Field Services
Rajni Kant Secretary & Compliance Officer
Amitava Bhattacharya Independent Non-Executive Director
Sector and Competitors