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ONGC gains 3% post June quarter earnings; should you buy, sell or hold?

Standalone gross revenue came in at Rs 13,011 crore, down 51 per cent YoY from Rs 26,555 crore posted in Q1FY20

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Buzzing stocks | Markets | ONGC

Nikita Vashisht  |  New Delhi 



Oil production at 5.7mmt (down 4 per cent YoY and 3 per cent QoQ) and sales at 5.2mmt were 1 per cent/4 per cent below global agency Nomura's estimates, respectively
Oil production at 5.7mmt (down 4 per cent YoY and 3 per cent QoQ) and sales at 5.2mmt were 1 per cent/4 per cent below global agency Nomura's estimates, respectively

Shares of state-run (Oil and Natural Gas Corporation) jumped 3 per cent to hit an intra-day high of Rs 81.70 on the BSE on Wednesday after the company's standalone earnings before interest, tax, depreciation, and amortisation (EBITDA) came in at Rs 5,900 crore, beating Street estimates. This was mainly due to lower other expenses (down 51 per cent sequentially and 16 per cent YoY) owing to lesser provisioning.

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First Published: Wed, September 02 2020. 10:21 IST

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