Page 10 - Ongc

Buy & sell ideas for July 01 from Anand Rathi: Nestle, SBI Life, ONGC

Notably, SBI Life has recently broken out of this consolidation range and is now sustaining levels above it, indicating a potential upward trend

ONGC sets up 2 100-bed hosps at twin base camps for Amarnath pilgrims

ONGC has set up two 100-bed hospitals at the twin Amarnath base camps in Kashmir and announced that the facilities would continue to operate post the annual yatra. The 52-day pilgrimage commenced from the twin tracks -- the traditional 48-kilometre Nunwan-Pahalgam route in Anantnag and the 14-kilometre shorter but steeper Baltal route in Ganderbal -- early on Saturday. The yatra is scheduled to commence on August 19. ONGC said it teamed up with the health and medical education department to bolster the region's healthcare infrastructure. Recognising the need for sustainable healthcare infrastructure, ONGC, under its Corporate Social Responsibility initiative, constructed permanent hospitals at Baltal and Chandanwari-Pahalgam in Anantnag, it said in a statement. Each of these hospitals are equipped with 100 beds, lodging facilities for medical staff and intensive care units that would serve as primary health centres and provide essential medical services to local communities, it ...

Oil India stock rallies 5%, hits new high ahead of 1:2 bonus; ONGC up 2%

The board of Oil India has fixed Tuesday, July 2, 2024 as record date to determine the eligibility of shareholders to receive bonus shares in the ratio of 1:2.

After 7 yrs & $1.2 bn investment, ONGC offers stake in Deen Dayal gas field

After spending close to USD 1.2 billion and seven years of little success, state-owned Oil and Natural Gas Corporation (ONGC) is seeking partners to rescue the Deen Dayal gas field in the KG basin in Bay of Bengal. ONGC on June 12 sought expression of interest from "global oil and gas companies with requisite technical expertise and financial strength to join as partner (with participative interest) for firming up a viable strategy" for the field, according to the tender document. The field has produced negligible quantities of gas since ONGC in January 2017 acquired Gujarat State Petroleum Corporation's (GSPC) 80 per cent interest in the KG-OSN-2001/3 block off the east coast of India. The block contains the Deen Dayal West (DDW) gas/condensate field which was discovered by GSPC almost two decades back. The Gujarat government company had showcased the field as a promising prospect when it sold its stake to ONGC in order to cut its debt. The field, which was initially said to hold

ONGC partners with Indian Oil to set up LNG plant in Madhya Pradesh

State-owned Oil and Natural Gas Corporation and Indian Oil Corporation have signed an agreement to set up a small-scale liquefied natural gas plant near the Hatta gas field in Madhya Pradesh. The memorandum of understanding (MoU) was signed on June 17, Oil and Natural Gas Corporation (ONGC) said in a statement. It has a gas discovery in the Vindhyan basin. Gas from it will be converted into liquefied natural gas (LNG) for transportation by trucks to consumers. "The establishment of the Hatta LNG plant will significantly enhance the Vindhyan Basin's status, upgrading it from a Category II to a Category I Basin," it said. India's sedimentary basins, covering a total area of 3.4 million square kilometres, are divided into three categories -- Category-I - which has hydrocarbon reserves and already producing; Category-II that have contingent resources pending commercial production, and Category-III with prospective resources awaiting discovery. "The plant will utilise cutting-edge ...

L&T share price gains after bagging large offshore order from ONGC

Shares of Larsen and Toubro (L&T) soared 2.3 per cent at Rs 3716.80 per share on the BSE in Thursday's intraday trade

'No stake sale in Mumbai High, foreign co will only provide tech to ONGC'

Oil and Natural Gas Corporation (ONGC) will not give any equity stake in its flagship Mumbai High oil and gas fields to any foreign company and is only seeking help from global giants like BP Plc to help reverse declining output from the field, a top government official said on Tuesday. The foreign company will get a share of revenue from incremental production plus a fixed fee for its efforts, while ONGC will continue to be the operator and incur all the capital and operating expenditure in implementation of the technical solution, the official said. All risks will be borne by ONGC, while the foreign partner will get the fixed fee even in case of a failure. "Mumbai High is a field that was given to ONGC on nomination basis and the company has no authority or power to sell a stake in any nomination field," the official said. "What ONGC has done is floated an international tender to seek technical services providers (TSP) to reverse years of decline in oil and gas production from the

ONGC, Oil India surge up to 8% amid heavy volume on positive outlook

Analysts at Emkay maintain positive view on B2B oil & gas, as reforms wrt the USD75/bbl assured post windfall tax oil realization and the USD6.5/mmbtu gas realization are unlikely to change.

How to trade Modi stocks ahead of LS election results? Complete guide here

The so-called 'Modi-stocks' have rallied up to 50 per cent in the last six months, suggests a CLSA report. What's in store ahead; here's what the charts suggest.

RIL, Bharti Airtel: What are Modi stocks, and why is CLSA bullish on them?

Within this basket of Modi stocks, the preferred BUYs for CLSA India analysts are ONGC, NTPC, NHPC, SBI, Power Finance, IGL and Mahanagar Gas in the PSU space

ONGC's high investments to delay deleveraging over next 12-24 months: S&P

A step-up in investments at Oil and Natural Gas Corp (ONGC) will slow down its deleveraging over the next 12-24 months, eroding headroom for the state-owned firm's 'bbb+' standalone credit profile, S&P Global Ratings said on Monday. Stating that ONGC's financial results for the fiscal year ended on March 31, 2024, were in line with expectations, S&P said despite a decline of 2-3 per cent in the company's domestic oil and gas production volumes and lower realizations in fiscal 2024, EBITDA grew to Rs 1.1 lakh crore from Rs 93,600 crore in fiscal 2023. "We attribute the higher EBITDA to the strong performance of downstream subsidiaries - Mangalore Refinery and Petrochemicals Ltd (MRPL) and Hindustan Petroleum Corp Ltd (HPCL), which together accounted for about 30 per cent of the group's EBITDA during the year. We forecast ONGC's EBITDA will remain at about Rs 1 lakh crore over fiscal years 2025 and 2026," it said. ONGC's integrated operations will support earnings ...

Govt considers easier regulations for CPSEs' entry into 'Ratna' club

A second official said the Ratna status allows CPSEs to do hassle free business. "They don't have to come to the government for permission for every business decision," the official added

Higher output, reasonable valuations positive for upstream major ONGC

The upside in production volumes coupled to reasonable valuations are two reasons why most analysts are bullish on the stock

TCS, ONGC, SAIL, Ujjivan SFB, Trident among nine stocks to track on May 21

In the domestic market, foreign institutional investors (FIIs) offloaded shares worth Rs 92.95 crore, on May 18. Meanwhile, domestic institutional investors (DIIs) sold shares worth Rs 152.87 crore

ONGC Q4 results: Net profit rises 78% to Rs 11,526 cr, dividend announced

ONGC's board has recommended final dividend at the rate of Rs 2.50 per equity share of face value

Q4 results: ONGC, Oil India, SAIL among 83 firms to post earnings today

Q4 FY24 company results: IRFC, Bharat Electronics, India Cements, City Union Bank, and VRL Logistics will are poised to release the financial report for the fourth quarter on May 20

Upstream oil cos in focus amid Iran-Israel war; ONGC, OIL surge up to 5%

Experts believe any escalation in the Iran-Israel conflict may lead to a rise in crude oil prices.

PTC India gets shareholders' nod to sell 100% stake in energy arm to ONGC

Power trading solutions provider PTC India on Thursday received shareholders approval for selling 100 per cent equity stake in its arm PTC Energy to state-owned ONGC Ltd for an enterprise value of Rs 2,021 crore. As much as 93.61 per cent of votes were in favour of the special resolution to approve the proposal for 100 per cent disinvestment (by way of sale, transfer or otherwise) in its wholly-owned subsidiary PTC Energy Ltd, at an extraordinary general meeting held on Thursday, a regulatory filing said. In October, PTC India announced that the upstream firm ONGC had emerged as the successful bidder for acquiring 100 per cent stake in PTC Energy for an enterprise value of Rs 2,021 crore. In November 2023, PTC India Chairman and Managing Director Rajib K Mishra had told PTI in an interview, "With the transfer of PTC Energy's assets, the company would become virtually debt-free." Mishra had also informed that the enterprise value of PTC Energy includes Rs 925 crore bid of ONGC as we

Foreign investment dwindles as India struggles to boost oil production

India's high demand for oil and low domestic output are increasing the dependence on imports. The 'supportive' upstream policy, if backed by lower taxes, could turn things around

Gail, ONGC explore possibility of importing ethane at Shell's Guj terminal

State gas utility GAIL (India) Ltd and oil producer ONGC will explore possibility of using Shell's import terminal at Hazira in Gujarat for importing ethane and other hydrocarbons to fuel their petrochemical ambitions. GAIL had in May last year signed a memorandum of understanding with Shell Energy India Pvt Ltd to explore opportunities in energy value chain, including sourcing of ethane. On Thursday, "GAIL, Oil and Natural Gas Corporation (ONGC) and Shell Energy India (SEI) Pvt Ltd signed a tripartite memorandum of understanding (MoU) to explore opportunities for import of ethane and other hydrocarbons and development of evacuation infrastructure at Shell Energy Terminal, Hazira," GAIL said in a statement. Both GAIL and ONGC are exploring import of ethane from countries such as the US for planned petrochemical plants that are aimed at catering needs for goods ranging from plastics to paints and adhesives in the fast expanding economy. GAIL is looking to build an ethane cracker whi