Oil & Natural Gas Corpn Ltd (ONGC)

ONGC Faces Limited Net Realisation, Fall in Q4 Profit Expected - 18 May, 2024

Oil & Natural Gas Corporation (ONGC) is expected to report a fall in net profit for Q4FY24 due to limited net realisation from oil and gas. However, the company has started a new transport service for its personnel from various oil platforms and drilling rigs in Mumbai High.

ONGC Faces Mixed Prospects Amidst Talks of Consortium Bid - 17 May, 2024

Oil & Natural Gas Corpn Ltd faces mixed prospects as it may see a decline in Q4 net profit despite an expected rise in EBITDA. However, the company is reportedly in talks with NTPC Green Energy to form a consortium to bid for Ayana Renewable Power. Additionally, ONGC and Oil India Ltd are set to benefit from lower taxes on their crude oil output.

ONGC Shares Rise as Government Cuts Windfall Tax on Crude Oil - 16 May, 2024

Shares of ONGC rose by 1.5% on the National Stock Exchange after the Indian government reduced the windfall tax on petroleum crude from ₹8,400 to ₹5,700 per tonne. This move will benefit upstream oil exploration and production companies such as ONGC and Oil India Ltd.

ONGC Videsh Directed to Scout for Critical Minerals Overseas - 15 May, 2024

The Indian government has directed state-owned companies, including ONGC Videsh Ltd, to start looking for critical mineral assets overseas. The Indian mines ministry is encouraging ONGC Videsh to scout for critical minerals such as lithium and copper in Zambia and Congo.

ONGC Board Approves Investment in Subsidiary - 13 May, 2024

Oil & Natural Gas Corporation's board has approved a total investment of Rs 11.99 billion in its wholly-owned subsidiary, ONGC Green. The company also incurred a capex of Rs 2,318 crore in the first month of the current financial year.

ONGC Green Limited Prepares for IPO - 11 May, 2024

Oil and Natural Gas Corporation (ONGC) subsidiary, ONGC Green Limited, is preparing for an IPO. The company focuses on renewable energy, biofuels, green hydrogen, and carbon capture, with plans to invest in various sectors within renewable energy such as solar, wind, hydel, tidal, and geothermal energy, as well as in biofuels, biogas, green hydrogen, and associated derivatives like green ammonia and methanol.

ONGC Board Meeting to Consider Final Dividend Announcement - 09 May, 2024

The board of directors of ONGC is set to meet on May 20, during which it may announce a final dividend for investors. Global brokerage firm Jefferies has recommended a buy call to ONGC with a target price of Rs 390.

ONGC Announces Total Interim Dividend Payout of Rs 9.75 per Share - 06 May, 2024

Oil major ONGC has announced a total interim dividend payout of ₹9.75 per share for FY24, with investors anticipating another dividend payout along with its final Q4 results.

ONGC Stock Witnesses Positive Momentum - 03 May, 2024

Oil & Natural Gas Corpn Ltd (ONGC) experiences positive momentum as Jefferies maintains a buy rating with a target price of Rs 390, the stock hits a multi-year high of Rs 292.95, and there is a build-up of fresh long positions in the F&O market.

ONGC Aims to Boost Production Amidst Windfall Tax Increase - 02 May, 2024

India's largest oil and gas explorer, ONGC, is aiming to reverse declining production by increasing output from its Krishna Godavari basin. However, the government's increase in windfall tax may impact profits of crude oil producers such as ONGC and Oil India.

Government Cuts Windfall Tax on Crude Oil - 01 May, 2024

The Indian government has reduced the windfall tax on crude oil to Rs 8,400 per metric ton from Rs 9,600. This move is expected to benefit upstream oil exploration and production companies such as ONGC and Oil India Ltd as they will have to pay a lower tax on their crude.

Vikas Lifecare Announces Capacity Expansion for ONGC Petro Additions - 30 Apr, 2024

Del-credere agent Vikas Lifecare has acquired new land adjoining its existing factories in Rajasthan to expand capacity for ONGC Petro Additions. The expansion is expected to add Rs 60 crore to the gross revenues from compounding business segment.

ONGC Contributes 1.6 MMT to Domestic Crude Production - 25 Apr, 2024

In March, domestic crude production remained steady at 2.5 MMT with ONGC contributing 1.6 MMT and Oil India Limited at 0.3 MMT. The difference between domestic gas production and imports widened to 2,456 MMSCM.

Positive Analyst Outlook for ONGC Stock; Women Inducted in Deep-Sea Exploration Roles - 19 Apr, 2024

State-run ONGC has inducted women in deep-sea exploration roles with targeted safety initiatives. Leading analysts have turned positive on the stock due to rising crude prices and better capital allocation.