ONGC Stock Shows Stability Amid Market Volatility, Highlights Valuation Opportunities
Oil & Natural Gas Corporation (ONGC) has been active in the stock market, showing consecutive gains and stable trading despite volatility. The company has a high dividend yield and operates within the large-cap segment, with a lower P/E ratio compared to the industry average. Its long-term performance has outpaced the Sensex.
Oil & Natural Gas Corporation (ONGC) has shown notable activity in the stock market today, aligning its performance with the broader oil sector. The stock has experienced a consecutive gain over the past two days, rising by 0.91%. It has traded within a narrow range of Rs 1.3, indicating a stable trading environment despite high volatility, with an intraday volatility of 26.76%.In terms of moving averages, ONGC's current price is above the 5-day, 20-day, 50-day, and 100-day moving averages, yet remains below the 200-day moving average. The company boasts a high dividend yield of 5.65%, which is appealing for income-focused investors.
With a market capitalization of Rs 3,09,537.77 crore, ONGC operates within the large-cap segment of the oil industry. The stock's price-to-earnings (P/E) ratio stands at 8.45, significantly lower than the industry average of 19.78, suggesting a potential valuation opportunity within the sector.
Over the past year, ONGC has faced a decline of 25.71%, contrasting with the Sensex's modest gain of 0.97%. However, its performance over three years shows a robust increase of 89.41%, outperforming the Sensex's 50.64% rise during the same period.
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