ONGC Stock Shows Favorable Trend with High Dividend Yield and Low P/E Ratio
Oil & Natural Gas Corporation (ONGC) is actively trading above key moving averages, indicating a strong trend. With a market cap of Rs 3,20,608.42 crore and a P/E ratio of 8.90, it offers an attractive valuation. The company also provides a high dividend yield of 4.89%, appealing to income-focused investors.
Oil & Natural Gas Corporation (ONGC) has shown notable activity in the market today, aligning closely with sector performance. The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong short to long-term trend. With a market capitalization of Rs 3,20,608.42 crore, ONGC operates within the large-cap segment of the oil industry. The company's price-to-earnings (P/E) ratio stands at 8.90, significantly lower than the industry average of 16.36, suggesting a potentially attractive valuation relative to its peers.
In terms of dividend yield, ONGC offers a high yield of 4.89% at the current price, which may appeal to income-focused investors.
Over the past year, ONGC's performance has been slightly negative at -2.65%, contrasting with the Sensex's gain of 6.04%. However, the stock has shown resilience in shorter time frames, with a 6.39% increase over the past month, outperforming the Sensex's 5.61% rise. Overall, ONGC's performance metrics reflect a mixed but stable position within the oil sector.
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