ONGC Shows Resilience Amidst Market Challenges with Strong Dividend Yield
Oil & Natural Gas Corporation (ONGC) has rebounded after two days of decline, currently trading above several moving averages. With a market cap of Rs 3,12,494.14 crore, ONGC has a P/E ratio of 7.69 and a dividend yield of 5.58%, appealing to income-focused investors.
Oil & Natural Gas Corporation (ONGC) has shown notable activity today, outperforming its sector by 0.53%. After experiencing two consecutive days of decline, the stock has reversed its trend, gaining 0.73% in value. Currently, ONGC's price is above its 5-day, 20-day, 50-day, and 100-day moving averages, although it remains below the 200-day moving average.With a market capitalization of Rs 3,12,494.14 crore, ONGC is classified as a large-cap company in the oil industry. The stock's price-to-earnings (P/E) ratio stands at 7.69, significantly lower than the industry average of 18.63, indicating a potential valuation opportunity within the sector.
In terms of dividend yield, ONGC offers a high yield of 5.58% at the current price, which may appeal to income-focused investors. Over the past year, the stock has faced challenges, with a performance decline of 11.00%, contrasting with the Sensex's gain of 10.97%. However, ONGC has shown resilience in shorter time frames, including a 3.03% increase over the past week, compared to the Sensex's 1.20% rise.
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