Oil & Natural Gas Corpn Ltd (ONGC)

ONGC Board Approves Extension of Exercise Period for Conversion of Share Warrants - 23 Jul, 2024

The Board of Oil & Natural Gas Corpn has approved an extension of the exercise period for conversion of Share Warrants and backstopping support for Compulsory Convertible Debentures issued by ONGC Petro additions. However, ONGC was among the major losers in the stock market.

ONGC Videsh Acquires Stake in Azerbaijan Oilfield - 22 Jul, 2024

ONGC Videsh, the overseas investment arm of ONGC, has acquired a 0.615% stake in the Azeri Chirag Gunashli oil field in Azerbaijan from Equinor for $60 million. The acquisition also includes acquiring 0.737% shares of the Baku Tbilisi Ceyhan pipeline company through its subsidiary ONGC BTC Limited.

ONGC Sets Ambitious Goal for Net Zero Emissions - 21 Jul, 2024

PSU oil and gas explorer ONGC aims to achieve net-zero operations by 2050 and detect methane emissions using TROPOMI Satellite data technology. Oil and gas companies call for tax reduction and customs duty exemptions. ONGC's market value increases.

ONGC Videsh Acquires Stake in Azerbaijan Oilfield - 20 Jul, 2024

ONGC Videsh, the overseas investment arm of ONGC, has acquired Equinor's stake in an Azerbaijan oilfield and associated pipeline for $60 million, enhancing its stakes in the ACG oil field and BTC pipeline. The acquisitions align with the company's strategic objectives of securing high-quality international assets and strengthening India's energy security.

ONGC Acquires Stake in ACG Oil Field; Dividends Appear Sustainable - 19 Jul, 2024

Oil & Natural Gas Corporation's subsidiary, ONGC Videsh, acquires a stake in Azerbaijan's Offshore Azeri Chirag Gunashli (ACG) oil field and BTC pipeline. Citigroup maintains buy rating on ONGC, while dividends appear sustainable.

ONGC Commences Production from CBM Block in Bokaro, Jharkhand - 18 Jul, 2024

Oil and Natural Gas Corporation Limited (ONGC) has started production from its coal bed methane block in Bokaro, Jharkhand, with an initial production of 1,70,000 SCMD expected to ramp up to 3,00,000 SCMD by the end of the current financial year. ONGC also maintains a stable dividend policy.

ONGC Stock Gains Investor Confidence Amid Strong Earnings Growth Outlook - 17 Jul, 2024

ONGC's investor and analyst confidence remain strong amid earnings growth outlook, leading to gains for the company's share price. Additionally, ONGC is expected to bid for offshore hydrocarbon blocks in Bangladesh. JM Financial gives Buy ratings on ONGC and Oil India with a target of Rs 355-371.

ONGC Shares Reach All-Time High - 16 Jul, 2024

Oil & Natural Gas Corpn Ltd (ONGC) shares reached an all-time high of Rs 323 with a 5.18% intraday gain on July 16, propelling its market capitalization to Rs 4.06 lakh crore—the highest in its history. The surge underscores ONGC's strong financial health and strategic direction.

ONGC Shares Hit All-Time High Amid Strong Growth Prospects - 15 Jul, 2024

Shares of Oil & Natural Gas Corporation (ONGC) hit an all-time high of Rs 314.70 due to strong growth prospects, improved earnings performance, and higher production at the KG 98/2 field. Additionally, ONGC was among the top index movers that led the supports for the Nifty 50 and Sensex to settle at their fresh closing highs. India is also awaiting the entry of an international oil company with deepwater exploration expertise to participate in Open Acreage Licensing Program bidding rounds in Andaman waters.

ONGC Stock Confirms Multi-Month Resistance Zone - 12 Jul, 2024

Oil and Natural Gas Corporation Ltd (ONGC) stock confirms a multi-month resistance zone at 295 levels on a closing basis, indicating the resumption of a prior uptrend. The daily and weekly strength indicator RSI has turned bullish showing rising strength.

ONGC Shares Rally Amid Domestic Oil Exploration Buzz - 11 Jul, 2024

State-run oil exploration companies' shares rallied up to 13%, with ONGC gaining over 12% this month due to increased focus on domestic oil exploration and production. Additionally, ONGC has sought a waiver from the US to lift crude oil from Venezuela, while Oil Minister Hardeep Singh Puri called for stepping up the oil and gas hunt.

ONGC Announces Major Investment in Renewable Energy - 10 Jul, 2024

State-owned ONGC plans to invest over Rs 2 lakh crore in developing renewable energy projects and green hydrogen plants to achieve its goal of net-zero carbon emissions by 2038. The company will also allocate funds towards cutting gas flaring to zero and investing in offshore wind projects.

ONGC Announces Investment Plan for Net-Zero Carbon Emissions Target - 09 Jul, 2024

State-owned Oil and Natural Gas Corporation (ONGC) has announced an investment plan of approximately Rs 2 lakh crore to set up renewable energy sites, green hydrogen plants, and cut gas flaring to zero to achieve its net-zero carbon emission target by 2038.

ONGC Shares Rally to Nine-Year High Amid Growth Hopes - 08 Jul, 2024

Shares of ONGC rallied 5% to hit an over nine-year high at Rs 303 on BSE, while JM Financial has a buy call on the stock with a target price of Rs 325. The company's dividend yield stands at 4.1%, ranking second among top 10 stocks. ONGC is up 80.74% in the last year.

ONGC Stock Breaks Downward Trendline on Robust Volume - 07 Jul, 2024

Oil & Natural Gas Corpn Ltd (ONGC) stock has given a downward-sloping trendline breakout on a daily scale with robust volume and a sizable bullish candle. The daily RSI surged above the 60 mark, indicating potential for further gains. Analysts recommend accumulating the stock in the zone of 289-287 level with a stop loss of Rs 279, as it is likely to test Rs 305 followed by 315 in the short term.

Oil & Natural Gas Corp Among Top 10 Dividend-Paying Companies in India - 05 Jul, 2024

According to a report by Religare Broking, Oil & Natural Gas Corp is among the top 10 dividend-paying companies in India. The dividend yield is an indicator of the return that investors are earning on their shares.

ONGC Shares Show Bullish Reversal Momentum Amidst Positive News - 02 Jul, 2024

Positive news surrounding Oil & Natural Gas Corporation Ltd includes a surge in share prices due to increased windfall gains tax on crude oil, L&T securing a significant order, and Vivek Chandrakant Tongaonkar's appointment as new Director (Finance) and CFO. Additionally, the company's shares are showing bullish reversal momentum.

L&T Bags Order from ONGC for PRP VIII Group B - 01 Jul, 2024

Oil & Natural Gas Corporation (ONGC) achieved a capex of Rs 5,375 crore in April-May, showing an increase of 11% YoY. Technical indicators suggest that the ONGC stock is attractive at its current levels. Additionally, L&T Energy Hydrocarbon vertical has secured a significant order from ONGC for Pipeline Replacement Project (PRPVIII Group B) off India's west coast.

Technical Indicators Support Bullish Outlook for ONGC - 30 Jun, 2024

ONGC has experienced a reversal from its support level at Rs 265, coinciding with the 100-day Exponential Moving Average. The Moving Average Convergence Divergence indicator on the daily chart has shown bullish divergence during the previous correction phase and formed a bullish cross near the zero line, supporting a bullish outlook.

ONGC Signs MoU for LNG Plant with IndianOil - 29 Jun, 2024

ONGC and IndianOil have entered into a strategic partnership to establish an LNG plant near ONGCs Hatta Gas Field. The non-binding MoU may see a repeat in other areas by the two entities. Additionally, ONGC's stock has a strong technical outlook.