ONGC Faces Decline Amid Sector Challenges and Valuation Disparities
Oil & Natural Gas Corporation (ONGC) has seen a decline in stock performance, underperforming its sector. The company, with a market capitalization of Rs 2,90,604.45 crore, has a low P/E ratio compared to the industry average. Despite recent losses, ONGC maintains a high dividend yield of 5.91%.
Oil & Natural Gas Corporation (ONGC), a prominent player in the Oil Exploration and Refineries sector, has experienced notable activity today, underperforming the sector by 2.92%. The stock opened at Rs 226.3, reflecting a loss of 2.92% from the previous close, and has since maintained this price level, reaching an intraday low of Rs 226.3. Over the past two days, ONGC has seen a cumulative decline of 5.25%.In terms of market metrics, ONGC's market capitalization stands at Rs 2,90,604.45 crore, categorizing it as a large-cap stock. The company's price-to-earnings (P/E) ratio is currently at 7.27, significantly lower than the industry average of 18.04, indicating a potential valuation disparity within the sector.
Despite the recent downturn, ONGC offers a high dividend yield of 5.91%. Over the past year, the stock has declined by 13.06%, contrasting with the Sensex's performance of 10.24%. The broader Oil Exploration and Refineries sector has also faced challenges, with a collective decline of 2.55%.
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