ONGC Shows Recent Gains Amidst Broader Oil Sector Trends and Valuation Discrepancies
Oil & Natural Gas Corporation (ONGC) has been active in the market, showing a three-day gain and currently trading above its short-term moving averages. With a market cap of Rs 2,98,152.62 crore, ONGC has a P/E ratio of 8.24 and a dividend yield of 5.28%. However, it has faced a year-long decline of 18.30%.
Oil & Natural Gas Corporation (ONGC) has shown notable activity today, aligning its performance with the broader oil sector. The stock has experienced a consecutive gain over the last three days, reflecting a rise of 2.26% during this period. Currently, ONGC's price is above its 5-day and 20-day moving averages, although it remains below the 50-day, 100-day, and 200-day moving averages.With a market capitalization of Rs 2,98,152.62 crore, ONGC is classified as a large-cap company. The stock's price-to-earnings (P/E) ratio stands at 8.24, significantly lower than the industry average of 16.21, indicating a potential valuation discrepancy within the sector.
In terms of dividend yield, ONGC offers a high yield of 5.28% 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 18.30%, contrasting with the Sensex's marginal gain of 0.06%. Despite recent gains, ONGC's year-to-date performance remains slightly negative at -0.86%, compared to the Sensex's 6.22% increase.
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