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ONGC hits 52-week high as crude oil boils

Capital Market 

ONGC rose 3.16% to Rs 140.35 amid rising crude oil prices.

In the commodities market, Brent crude for December 2021 settlement was up 1.32% at $78.25 a barrel. It has jumped 7.21% so far in September 2021.

Higher crude oil prices boost ONGC's average realisation from every barrel of the oil sold.

Shares of ONGC hit a 52-week high of Rs 140.65 today. The stock has soared 170.95% from its low of Rs 51.80 hit on 13 March 2020.

In the past one month, the stock has surged 20.53% as against 7.13% rise in the Sensex. It has jumped 103.63% in the past one year compared with 60.81% surge in the Sensex.

On the technical front, the stock's RSI (relative strength index) stood at 67.20. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

The stock was trading above its 50-day simple moving average (SMA) placed at 133.84 and 200-day SMA at 123.46.

On a standalone basis, ONGC recorded a net profit of Rs 4334.75 crore in Q1 FY22, higher than net profit of Rs 495.97 crore in Q1 FY21. Net sales rose 76.9% YoY to Rs 23021.64 crore during the period under review.

During the quarter under review, the net realisation per barrel of crude oil produced by ONGC from nominated fields rose to $65.59 a barrel, up 127.2% from $28.87 a barrel in Q1FY21.

ONGC is India's largest integrated oil and gas company. ONGC is 60.41% owned by the Government of India as on 30 June 2021.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Mon, September 27 2021. 14:32 IST
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