ONGC's Stock Hits 52-Week High, Outperforms Sector and Offers High Dividend Yield

Oil & Natural Gas Corporation Ltd. (ONGC) has been making headlines in the oil exploration and refineries industry with its recent surge in stock price. On January 29, 2024, the company's stock hit a 52-week high of Rs. 249.2, showing a strong performance in the market.

MarketsMOJO, a leading stock analysis platform, has given a 'Buy' call for ONGC, further boosting investor confidence in the company. The stock has also outperformed the sector by 3.72% and opened with a gain of 3.7% today, indicating a positive sentiment among investors.

Intraday trading saw ONGC's stock touch an all-time high of Rs. 249.2, showing a 6.5% increase. The company's stock is also trading higher than its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong upward trend.

Apart from its impressive stock performance, ONGC also offers a high dividend yield of 4.47% at the current price, making it an attractive option for investors looking for stable returns.

In the past year, ONGC has shown a remarkable performance with a 70.53% increase in its stock price, outperforming the Sensex's performance of 20.63%. This further solidifies ONGC's position as a strong player in the oil exploration and refineries industry.

With its recent surge in stock price and strong financial performance, ONGC continues to be a top choice for investors in the largecap category.