Oil & Natural Gas Corpn Ltd Share Price (ONGC)

ONGC Receives FEED Contract & Analysts Maintain Overweight Rating - 18 Apr, 2024

Oil and Natural Gas Corporation (ONGC) receives Front End Engineering Design (FEED) contract and project management consultancy (PMC) services. Analysts maintain their overweight rating on ONGC with target prices ranging from Rs 304 to Rs 390 per share.

ONGC Aims to Boost Production from Krishna Godavari Basin - 17 Apr, 2024

The Indian government is pushing ONGC and Oil India Limited to boost production. ONGC plans to increase output by FY25, with new output from its Krishna Godavari basin expected to raise overall oil production by 11% and gas production by 15%.

ONGC Stock Gains Despite Windfall Tax Hike - 16 Apr, 2024

Despite the Indian government's hike in windfall gains tax on crude oil, ONGC stock gained 1.16%. Jefferies has rated the stock with a price target of Rs 390, while Ruchit Jain recommends buying at ₹280-277.

Jefferies Initiates Buy Call on ONGC Stock - 15 Apr, 2024

Global brokerage firm Jefferies has initiated a buy call on ONGC stock with a target price of Rs 390, citing positive outlook for crude pricing, reforms to gas pricing, and profitable production growth. Shares of ONGC surged by nearly 5% following the announcement. However, ONGC reported a YoY decline in consolidated net profit for Q3 FY24. The ongoing Iran-Israel conflict also led to a surge in ONGC and Oil India shares.

ISMT Wins Contracts Worth Rs 343.72 Crore from ONGC - 12 Apr, 2024

Oil and Natural Gas Corporation Limited (ONGC) has awarded two contracts worth a total of ₹343.72 crore to Indian Seamless Metal Tubes Ltd (ISMT) for the supply of regular casing pipes as per ONGC's specifications.

Maharashtra Seamless Bags ONGC Work Order Worth Rs 674 Crore - 11 Apr, 2024

Maharashtra Seamless has received a work order from ONGC valued at Rs 674 crore for the supply of casing seamless pipes. The contract is to be executed in 44 weeks.

Oil & Natural Gas Corp's Strong Fundamentals Warrant Further Research - 09 Apr, 2024

Oil & Natural Gas Corporation Limited has delivered a 72% return in one year with a low PEG ratio of 0.64, while an article suggests that the stock's strong fundamentals warrant further research despite declining revenue from operations.

Hike in Windfall Tax May Impact Upstream Companies' Profitability - 06 Apr, 2024

The recent hike in the windfall tax by the government is likely to impact the profitability of Indian upstream companies. However, analysts expect realisations to remain healthy at $70-75 per barrel. Rising crude prices may impact input costs for oil explorers such as ONGC and Oil India.

ONGC Shares Drop After Government Hikes Windfall Tax - 04 Apr, 2024

The Indian government's fifth hike in windfall tax on petroleum crude since February has caused shares of state-owned oil exploration & production companies like ONGC and Oil India to drop by 4%. Upstream oil companies also saw a decline of 2.1%-2.5%, with ONGC being the top Nifty 50 loser.

ONGC to Invest $4.5 Billion to Reverse Output Decline - 02 Apr, 2024

Oil & Natural Gas Corporation plans to invest $4.5 billion in the next two to three years to increase oil and gas production by 60-70 million tonnes. The company aims to reverse output decline with a two-pronged strategy - scaling up output in new blocks and improving production efficiency in mature fields.

Government Lowers Gas Price Ceiling; ONGC Expects Peak Production in KG Basin - 01 Apr, 2024

The Indian government has lowered the gas price ceiling, affecting companies like ONGC that explore and produce gas. Meanwhile, ONGC aims to increase output with peak production expected from its KG Basin deepwater block by the end of 2024.

ONGC Videsh Awaits Cargoes and Discusses Operatorship in Venezuela - 27 Mar, 2024

ONGC Videsh Managing Director, Rajarshi Gupta, has stated that the company is awaiting cargoes in lieu of stuck dividends. Additionally, OVL is in discussions to obtain operatorship of two oil and gas projects in Venezuela.

ONGC Plans to Drill for Oil and Gas in Bihar - 25 Mar, 2024

Oil & Natural Gas Corporation (ONGC) plans to drill a well in Bihar this year, potentially opening up exploration of the entire Ganga basin. A commercial discovery could put Bihar on India's oil map.

ONGC Contributes 1.45 MMT to Domestic Crude Production - 21 Mar, 2024

During FY24, crude oil import volumes rose marginally by 0.38% while domestic crude production witnessed an annual rise of 4.87%, reaching 2.15 MMT in February. ONGC contributed 1.45 MMT to the total production.