ONGC Plunges by 12%; BSE OIL & GAS Index Down 9.2%
March 23, 2020 09:49 AM

ONGC share price has plunged 12% and is presently trading at Rs 65.

Meanwhile, the BSE OIL & GAS Index is at 9,369 (down 9.2%).

Among the top losers in the BSE OIL & GAS Index today are ONGC (down 11.7%) and RELIANCE IND. (down 10.0%).

Over the last one year, ONGC has moved down from Rs 152 to Rs 65, registering a loss of Rs 86 (down 56.9%)..

The BSE OIL & GAS has moved down from 15,001 to 9,369, loss of 5,632 points (down 37.5%) during the last 12 months.

The top gainers among the BSE OIL & GAS Index stocks during this same period were INDRAPRASTHA GAS (up 2.8%).

What About the Benchmark Indices?

The BSE Sensex is at 27,901 (down 9.2%).

In the meantime, NSE Nifty is at 8,159 (down 9.0%).

Over the last 12 months, the BSE Sensex has moved down from 38,387 to 27,901, registering a loss of 10,486 points (down 29.22%).

ONGC Financial Update...

ONGC net profit down at Rs 42 billion for the quarter ended December 2019, compared to a loss of Rs 83 billion a year ago. Net Sales declined 14.4% to Rs 237.1 billion during the period as against Rs 276.9 billion in October-December 2018.

For the year ended March 2019, ONGC reported 38.7% increase in net profit to Rs 320.5 billion compared to net profit of Rs 231.1 billion during FY18.

Revenue of the company grew 25.2% to Rs 4,535 billion during FY19.

The current Price to earnings ratio of ONGC, based on rolling 12 month earnings, stands at 4.0x.