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Limited gains for ONGC as coronavirus crisis, oil price spat continue

Analysts feel company's stock is already discounting crude price recovering to $48/barrel.

Topics
Coronavirus | ONGC | Lockdown

Ujjval Jauahri  |  Mumbai 

ongc, oil, gas, petrol
ONGC’s crude production at 4935 MMT (Million Metric tonne) improved slightly ,by 3 per cent year-on-year, but gas production declined 6.6 per cent year-on-year

State-owned gained more than 34 per cent from March lows to correct on Wednesday. As improved from $19 a barrel in April to around $40, sentiment for improved but the company’s March quarter performance failed to impress the investors.

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First Published: Thu, July 02 2020. 09:09 IST
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