ONGC Plunges by 5%; BSE OIL & GAS Index Down 2.8%

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ONGC Plunges by 5%; BSE OIL & GAS Index Down 2.8%
Mon, 16 Mar 10:02 AM

ONGC share price has plunged 5% and is presently trading at Rs 64.

Meanwhile, the BSE OIL & GAS Index is at 10,568 (down 2.8%).

Among the top losers in the BSE OIL & GAS Index today are ONGC (down 4.8%) and PETRONET LNG (down 5.6%).

Over the last one year, ONGC has moved down from Rs 150 to Rs 64, registering a loss of Rs 85 (down 56.9%)..

The BSE OIL & GAS has moved down from 14,738 to 10,568, loss of 4,170 points (down 28.3%) during the last 12 months.

The top gainers among the BSE OIL & GAS Index stocks during this same period were INDRAPRASTHA GAS (up 38.6%).

BREAKING NEWS: Massive Opportunity Triggered as Investing Legends Quit

What About the Benchmark Indices?

The BSE Sensex is at 33,103 (down 4.7%).

In the meantime, NSE Nifty is at 9,593 (down 4.3%). YES BANK (up 51.9%) and SUN PHARMA (up 0.1%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 37,752 to 33,103, registering a loss of 4,649 points (down 13.90%).

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 3.9x.

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