Oil and Natural Gas Corporation Ltd

PTC Energy Limited (PEL), a wholly owned subsidiary of PTC India, has an aggregate operational wind generation capacity of 288.80 MW located in 7 locations in Andhra Pradesh (AP), Madhya Pradesh (MP) and Karnataka. It operates 157 Wind Turbine Generators (WTGs) across all its wind farms. Its turnover was Rs 322.49 crore for FY24. By way of acquisition of PEL through OGL, a wholly owned subsidiary, ONGC will scale up its investments in the renewable energy sector to achieve its objectives of de-risking its portfolio against long-term disruptions and reducing its carbon footprint by making strategic investments in the energy transition space. The ONGC Green acquired 65,41,17,494 equity shares, representing a 100% equity stake in PEL. Meanwhile, the company has been allotted 120 crore equity shares of Rs 10 each by ONGC Green Limited, by way of subscription on right basis. Maharatna Oil and Natural Gas Corporation (ONGC) is the largest crude oil and natural gas company in India, contributing around 71% to Indian domestic production. It has in-house service capabilities in all areas of exploration and production of oil & gas and related oil-field services. The Government of India held a 58.89% stake in ONGC as of 31st December 2024. The company's standalone net profit fell 16.7% to Rs 8,239.92 crore in Q3 FY25 compared with Rs 9,891.71 crore in Q3 FY24. Revenue from operations declined 3.08% YoY to Rs 33,716.80 crore in Q3 FY25.Powered by Capital Market - Live

Oil & Natural Gas Corpn Ltd fell for a fifth straight session today. The stock is quoting at Rs 224.85, down 2.66% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is down around 1.84% on the day, quoting at 22131.1. The Sensex is at 73247.33, down 1.83%.Oil & Natural Gas Corpn Ltd has eased around 10.56% in last one month.Meanwhile, Nifty Energy index of which Oil & Natural Gas Corpn Ltd is a constituent, has eased around 8.09% in last one month and is currently quoting at 30659.25, down 2.25% on the day. The volume in the stock stood at 67.86 lakh shares today, compared to the daily average of 91.05 lakh shares in last one month. The benchmark March futures contract for the stock is quoting at Rs 225.8, down 2.76% on the day. Oil & Natural Gas Corpn Ltd tumbled 15.02% in last one year as compared to a 0.67% rally in NIFTY and a 22.84% fall in the Nifty Energy index.The PE of the stock is 7.45 based on TTM earnings ending December 24.Powered by Capital Market - Live

The proceeds from the rights issue will be used to fund the acquisition of PTC Energy, it added. On 13 September 2024, ONGC entered into a share purchase agreement with PTC India to acquire a 100% stake in PEL, which operates 288.8 MW of wind power projects across Andhra Pradesh, Madhya Pradesh, and Karnataka. Additionally, the company's board has approved the provision of a replacement corporate guarantee of Rs 75 crore on behalf of OGL for the PTC Energy acquisition. Maharatna Oil and Natural Gas Corporation (ONGC) is the largest crude oil and natural gas company in India, contributing around 71% to Indian domestic production. It has in-house service capabilities in all areas of exploration and production of oil & gas and related oil-field services. The Government of India held a 58.89% stake in ONGC as of December 2024. The company's standalone net profit fell 16.7% to Rs 8,239.92 crore in Q3 FY25 compared with Rs 9,891.71 crore in Q4 FY24. Revenue from operations declined 3.08% YoY to Rs 33,716.80 crore in Q3 FY25. Shares of Oil & Natural Gas Corporation shed 0.43% to Rs 233.35 on the BSE. Powered by Capital Market - Live

The key equity benchmarks traded near flat line with positive bias in early trade. The Nifty traded above 22,550 mark. Media, auto and bank shares advanced while realty, metal and pharma shares declined. At 09:25 IST, the barometer index, the S&P BSE Sensex, advanced 77.43 points or 0.10% to 74,529.65. The Nifty 50 index added 11.40 points or 0.05% to 22,564.75. In the broader market, the S&P BSE Mid-Cap index declined 0.45% and the S&P BSE Small-Cap index fell 0.29%. The market breadth was negative. On the BSE, 1,334 shares rose and 1,349 shares fell. A total of 146 shares were unchanged. Foreign portfolio investors (FPIs) sold shares worth Rs 6,286.70 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 5,185.65 crore in the Indian equity market on 21 February 2025, provisional data showed. The stock market will be closed tomorrow, 26th February 2025, on account of Mahashivratri. Numbers to Track: The yield on India's 10-year benchmark federal paper advanced 1.57% to 6.813 as compared with the previous close of 6.807. In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 86.8800, compared with its close of 86.7275 during the previous trading session. MCX Gold futures for 4 April 2025 settlement were added 0.12% to Rs 86.231. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.04% to 106.63. The United States 10-year bond yield declined 0.39% to 4.376. In the commodities market, Brent crude for April 2025 settlement added 36 cents or 0.48% to $75.14 a barrel. Stocks in Spotlight: Oil & Natural Gas Corporation (ONGC) rose 0.45%. The company intends to invest Rs 1,200 crore in subsidiary, ONGC Green via rights issue subscription. Torrent Power added 0.21%. The company's subsidiary, Torrent Green Energy incorporates Torrent Urja32 as a wholly owned subsidiary. Cosmo First advanced 0.73%. The comapny's subsidiary, Cosmo Specialty Chemicals has launched its innovative range of Oil and Grease Resistant (OGR) barrier coatings. These advanced solutions offer sustainable alternatives to traditional polyethylene coatings, addressing growing environmental concerns while maintaining superior performance. Global Markets: US Dow Jones index futures were up 92 points, indicating a positive opening in the US stocks today. Asian shares declined on Tuesday, driven by concerns over potential U.S. investment restrictions on Chinese technology sectors and anticipation of Nvidia's earnings. The Bank of Korea's expected 0.25% interest rate cut provided limited support to South Korean stocks. Hong Kong's Hang Seng index continued its downward trend from Monday, following U.S. measures aimed at limiting Chinese investment in strategic areas like semiconductors, artificial intelligence, and aerospace. Investor sentiment was further dampened by continued uncertainty surrounding potential U.S. tariffs on Mexico and Canada, despite prior hopes of negotiated resolutions. U.S. indices finished lower on Monday, with tech stocks leading the decline. This followed sharp losses in the previous session, fueled by growing concerns about a potential slowdown in the U.S. economy, as indicated by weaker consumer sentiment data. The S&P 500 fell 0.5% to 5,983.49 points, while the NASDAQ Composite slid 1.2% to 19,286.93 points. The Dow Jones Industrial Average closed up 0.1% at 43,461.95 points. All eyes are now on Nvidia's quarterly earnings release, scheduled for after the U.S. market close on Wednesday. Investors are particularly focused on whether the company maintained its high growth trajectory driven by strong demand for its advanced artificial intelligence chips.Powered by Capital Market - Live

Securities in F&O Ban: Chambal Fertilisers & Chemicals and Manappuram Finance shares are banned from F&O trading on 25 February 2025. Stocks o watch: Oil & Natural Gas Corporation (ONGC) intends to invest Rs 1,200 crore in subsidiary, ONGC Green via rights issue subscription. Torrent Power's subsidiary, Torrent Green Energy incorporates Torrent Urja32 as a wholly owned subsidiary. Cosmo First's subsidiary, Cosmo Specialty Chemicals has launched its innovative range of Oil and Grease Resistant (OGR) barrier coatings. These advanced solutions offer sustainable alternatives to traditional polyethylene coatings, addressing growing environmental concerns while maintaining superior performance. Biocon's subsidiary, Biocon Biologics announced that YESINTEK (ustekinumab-kfce) is now available to patients in the United States, and is one of the first Stelara (ustekinumab) biosimilar market entrants in the country. Nazara Technologies acquired 6,51,204 equity shares of Rs 10 each representing 38.57% of Funky Monkeys, from its existing shareholders against payment of cash consideration of Rs 28.7 crore. Texmaco Rail & Engineering has entered into a strategic Memorandum of Understanding (MoU) with Nevomo to cater to India and beyond for work in high-speed rail solutions & predictive track maintenance.Powered by Capital Market - Live

Oil & Natural Gas Corpn Ltd fell for a fifth straight session today. The stock is quoting at Rs 238.75, down 0.08% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is up around 0.14% on the day, quoting at 23104.35. The Sensex is at 76395.31, up 0.13%.Oil & Natural Gas Corpn Ltd has eased around 6.64% in last one month.Meanwhile, Nifty Energy index of which Oil & Natural Gas Corpn Ltd is a constituent, has eased around 3.87% in last one month and is currently quoting at 31436.75, down 0.25% on the day. The volume in the stock stood at 42.12 lakh shares today, compared to the daily average of 103.44 lakh shares in last one month. The benchmark February futures contract for the stock is quoting at Rs 239.6, down 0.13% on the day. Oil & Natural Gas Corpn Ltd tumbled 8% in last one year as compared to a 6.26% rally in NIFTY and a 18.32% fall in the Nifty Energy index.The PE of the stock is 7.7 based on TTM earnings ending December 24.Powered by Capital Market - Live

Oil and Natural Gas Corporation (ONGC) and bp have signed a contract under which bp will serve as the Technical Services Provider (TSP) for the Mumbai High field, India's largest and most prolific offshore oil field. ONGC will retain ownership and operational control of the field. Under the terms of the contract, bp will receive a fixed fee for a period of two years for its deployed personnel, followed by a service fee linked to incremental oil and gas production. bp will work in close collaboration with ONGC to stabilize the field's current production decline and restore it to a robust growth trajectory. Leveraging its extensive experience in managing some of the world's largest oil fields, bp will optimize oil recovery at Mumbai High by conducting comprehensive reviews of subsurface models, implementing system optimizations, and enhancing reservoir management practices. This partnership is anticipated to significantly boost domestic oil and gas production, thereby increasing revenue for ONGC and benefiting the people of India, while also yielding higher service fee returns for bp. bp will assemble a team of technical experts to commence work by March 2025. In support of this initiative, both companies have already established a Senior Management Team and a Joint Management Team to ensure seamless project execution.Powered by Capital Market - Live

The key equity indices ended near the flat line amid volatility after the Budget for 2025-26 was laid down in the Parliament by the finance minister. The Nifty settled below the 23,500 level after hitting the day's high of 23,632.45 in mid-morning trade. Realty, FMCG and consumer durables stocks were in demand. On the other hand, PSU bank, IT and oil & gas shares corrected. As per provisional closing data, the barometer index, the S&P BSE Sensex, added 5.39 points or 0.01% to 77,505.96. The Nifty 50 index lost 26.25 points or 0.11% to 23,482.15. In the broader market, the S&P BSE Mid-Cap index declined 0.49% and the S&P BSE Small-Cap index added 0.28%. The market breadth was positive. On the BSE, 2,085 shares rose and 1,826 shares fell. A total of 126 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, slipped 13.24% to 14.10. Union Budget 2025: Tax Relief, Infrastructure Push, and Focus on Key Sectors Finance Minister Nirmala Sitharaman delivered the Union Budget 2025, outlining a comprehensive vision for India's economic growth and inclusive development. The budget emphasizes key sectors like education, technology, manufacturing, healthcare, access to credit, and agriculture, while prioritizing fiscal responsibility. A major highlight is significant tax relief for the middle class. In a move that will likely resonate with taxpayers, Sitharaman announced that individuals with an income of up to Rs 12 lakh will now be exempt from income tax under the new tax regime. This measure aims to provide substantial financial relief to the middle class. The new tax slabs under this regime are as follows: Rs 4 to 8 lakh at 5%, Rs 8 to 12 lakh at 10%, Rs 12 to 16 lakh at 15%, Rs 16 to 20 lakh at 20%, Rs 20 to 24 lakh at 25%, and Rs 24 lakh and above at 30%. The Finance Minister reiterated the government's commitment to fiscal consolidation, aiming to maintain a downward trajectory for the fiscal deficit and reduce central government debt as a percentage of GDP. The budget projects total receipts for 2024-25 at Rs 31.47 lakh crore and total expenditure at Rs 47.16 lakh crore. The fiscal deficit target for FY25 is set at 4.8%, with a further reduction to 4.4% planned for FY26. A new Income Tax bill, focused on trust-based and streamlined compliance, will be introduced next week. To attract foreign investment, the FDI limit in the insurance sector has been increased from 74% to 100%. Several measures aim to streamline tax processes, including faceless assessments, faster tax returns, and five Vivad Se Vishwas schemes for expedited dispute resolution. Mergers and acquisitions will be facilitated through quicker approvals and expanded regulations, improving the ease of doing business. Technology will be a major focus, with the establishment of three Centers of Excellence for Artificial Intelligence (AI) with a Rs 500 crore outlay, focusing on AI in education. A National Manufacturing Mission will support clean technology production, including domestic manufacturing of electric vehicle (EV) batteries and solar panels. Five new national skilling centers will be established, and existing IITs will expand infrastructure to accommodate 6,500 more students. Atal Tinkering Labs will be introduced in government schools to foster innovation. Infrastructure development receives a boost through the PM Gatishakti initiative, which will provide the private sector with access to crucial data and maps for improved logistics and infrastructure planning. Tourism, a significant employment generator, will be promoted through collaboration with states to develop 22 top tourism destinations. Energy security is prioritized, with a plan to develop 100 gigawatts of nuclear energy by 2047. Basic Customs Duty (BCD) exemption on cobalt powder, lithium-ion battery waste, scrap, and 12 other critical minerals will ensure the availability of these materials for manufacturing. Healthcare will be strengthened by establishing daycare cancer centers in all district hospitals within three years. Medical tourism will be promoted through public-private partnerships and easier visa norms. Access to credit for micro, small enterprises, startups, and exporters will be significantly expanded. The credit guarantee cover for micro and small enterprises will double to Rs 10 crore, unlocking substantial additional credit. Startups will see their cover rise to Rs 20 crore. Exporter MSMEs will be eligible for term loans up to Rs 20 crore, and micro-enterprises on the Udyam portal will receive customized credit cards with a Rs 5 lakh limit. Entrepreneurship will be supported by a New Fund of Funds for Startups, with an additional Rs 10,000 crore, doubling the existing allocation. A Food Processing Institute will be established in Bihar, and a new Manufacturing Mission will support Make in India. A special scheme will offer term loans to 5 lakh women-led businesses. Agriculture receives substantial support through the PM Dhan Dhanya Krishi Yojana, aimed at enhancing productivity in 100 districts. The Developing Agri Districts Programme will improve irrigation and credit access for 1.7 crore farmers. NAFED and NCCF will directly procure pulses from farmers to ensure self-reliance. A Makhana Board will be set up in Bihar, and a National Mission on High-Yielding Seeds will boost farm productivity. Sitharaman emphasized investment as the third engine of growth, highlighting transformative reforms across various sectors. The budget prioritizes GYAN (Garib, Youth, Annadata, and Nari), energy security, economic resilience, and export promotion. Agriculture, MSMEs, and exports are positioned as key drivers of India's economic expansion. The 2025-26 budget aims to build household confidence and empower the middle class. Sitharaman highlighted India's rapid economic growth and growing global confidence in its potential, emphasizing the next five years as crucial for achieving Sabka Vikas (inclusive development). Meanwhile, the Budget session of Parliament commenced on January 31 with President Droupadi Murmu's address and will be conducted in two parts. The first part will run until February 13, while the second will be held from March 10 to April 4. Buzzing Index: The Nifty Realty index advanced 3.38% to 952.50. The index jumped 12.78% in five trading sessions. Phoenix Mills (up 6.36%), Prestige Estates Projects (up 5.4%), Macrotech Developers (up 4.94%), Sobha (up 3.34%) and DLF (up 1.94%), Oberoi Realty (up 1.71%) and Godrej Properties (up 1.08%) advanced. On the other hand, Mahindra Lifespace Developers (down 3.4%), Brigade Enterprises (down 1.23%) and Raymond (down 0.03%) edged lower. Economy: India's fiscal deficit for the first nine months of the current fiscal year stood at Rs 9.14 lakh crore, or 56.7% on the annual estimates, data released by the Controllerer General of Accounts (CGA) showed on Friday, according to media reports. The fiscal deficit widened from 55% in the comparable year- earlier period. Total receipts for the period stood at Rs 23.18 lakh crore, while overall government expenditure in April to December was at Rs 32.32 lakh crore. The combined index of Eight Core Industries (ICI) increased by 4 percent (provisional) in December 2024 as compared to the index in December 2023. The production of coal, electricity, steel, cement, refinery products, fertilizers, and crude oil recorded positive growth in December 2024. The final growth rate of Index of Eight Core Industries for September 2024 increased by 2.4 percent. The cumulative growth rate of ICI during April to December 2024'25 is 4.2 percent (provisional) as compared to the corresponding period of last year. Stocks in Spotlight: Maruti Suzuki India advanced 4.71% after the company's total sales increased 6.46% to 212,251 units in January 2024 as against 199,364 units sold in January 2023. Meanwhile, the car manufacturer's total production marginally rose to 206,851 units in January 2024 as against 204,876 units recorded in January 2023. Oil & Natural Gas Corporation (ONGC) fell 1.77% after the company's standalone net profit fell 16.7% to Rs 8,239.92 crore in Q3 FY25 compared with Rs 9,891.71 crore in Q4 FY24. Revenue from operations declined 3.08% YoY to Rs 33,716.80 crore in Q3 FY25. Hero Motocorp slipped 1.23% after the company announced that Niranjan Gupta has stepped down as the CEO of the company effective 30 April 2025, to pursue other opportunities. Quess Corp climbed 3.08% following the announcement of a share purchase by Fairbridge Capital (Mauritius), a promoter of the company. RailTel Corporation of India slipped 7.01%% after the firm said that it has received the work order from Department of Education Samagra Shiksha for supply and service amounting to Rs 15.98 crore. Vinati Organics rallied 2.30% after its net profit gained 21.78% to Rs 93.70 crore in Q3 FY25 as against Rs 76.94 crore in Q2 FY25. Revenue from operations spiked 16.44% to Rs 521.68 crore in Q3 FY25 over Q2 FY25. PBT jumped 22.76% to Rs 126.62 crore in Q3 FY25 over Q2 FY25. Vishal Mega Mart rallied 7.04% to Rs 115.55 after the company's consolidated net profit jumped 27.9% to Rs 262.71 crore in Q3 FY25 compared with Rs 205.36 crore in Q3 FY24. Revenue from operations increased 19.53% YoY to Rs 31,35.93 crore in Q3 FY25. Aster DM Healthcare slipped 3.11% after the company's consolidated net profit tumbled 68.31% to Rs 56.79 crore in Q3 FY25, compared with Rs 179.21 crore posted in Q3 FY24. However, revenue from operations jumped 9.96% year on year (YoY) to Rs 1,049.81 crore during the quarter ended 31 December 2024. Global Markets: The Trump administration announced new tariffs on imports from Mexico, Canada, and China, starting Saturday. These tariffs are partly in response to illegal fentanyl distribution. Potential tariffs include 25% on Mexican and Canadian imports, 10% on Chinese goods, and future tariffs on chips, oil, gas (possibly by February 18th), steel, aluminum, and copper. Trump insists these tariffs are unavoidable and will generate substantial revenue, even hinting at possible European tariffs. He contrasted the US's historical reliance on tariffs with its current dependence on income tax. The news caused US stock market declines. At the close in NYSE, the Dow Jones Industrial Average fell 0.75%, while the S&P 500 index declined 0.5%, and the NASDAQ Composite index declined 0.28%. Apple shares closed lower as the broader market selloff erased earlier gains. The company expects sales growth in the low- to mid-single digits for its fiscal second quarter, easing concerns about flagship handset sales, which slightly missed estimates in the holiday season. CEO Tim Cook remains optimistic, citing Apple Intelligence (AI features) as a driver of future sales. Exxon Mobil stock fell 2.5%, despite exceeding fourth-quarter profit expectations. Higher oil and gas production helped offset lower crude prices and weaker refining margins. Powered by Capital Market - Live

Revenue from operations declined 3.08% YoY to Rs 33,716.80 crore in Q3 FY25. Profit before tax (PBT) dropped 12.77% YoY to Rs 11,000.26 crore. Total expenses slumped 4.11% to Rs 24,527.54 crore during the quarter compared with Rs 25,578.43 crore in Q3 FY24. Cost of material consumed stood at Rs 874.32 crore (up 2.86% YoY), survey cost stood at Rs 458.04 crore (up 44.29% YoY), exploration well cost was at Rs 1,467.05 crore (down 35 YoY) during the period under review. The company's net crude oil realization was $72.57 per barrel (down 10.6% YoY) while gas price realization was $6.50 per mmtbu (flat YoY) during the period under review. The standalone crude oil production (excluding condensate) during Q3 FY25 was 4.653 MMT, registering a growth of 2.2% over corresponding quarter of FY24. The standalone natural gas production during Q3 FY 25 was 4.978 billion cubic metre (BCM) registering a growth of 0.3 % over Q3 FY24. On consolidated basis, the company's net profit declined 6.922% YoY to Rs 9,783.64 crore. Revenue from operations fell marginally 0.75% to Rs 166,096.68 crore in Q3 FY25 over Q3 FY24. Meanwhile, the company's board has declared 2nd interim dividend of Rs 5 per share The Record date for distribution of dividend has been fixed for 7th February, 2025. Further, the board has accorded its approval for acquisition of 1,15,20,000 equity shares of Mangalore SEZ (MSEZ), a joint venture of the company, from Infrastructure Leasing & Financial Services (IL&FS) at Rs 56,11,39,200.00 under its right of first refusal. Maharatna Oil and Natural Gas Corporation (ONGC) is the largest crude oil and natural gas company in India, contributing around 71% to Indian domestic production. It has in-house service capabilities in all areas of exploration and production of oil & gas and related oil-field services. The Government of India held 58.89% stake in ONGC as of December 2024.Powered by Capital Market - Live

Oil & Natural Gas Corpn Ltd lost 1.81% today to trade at Rs 257.75. The BSE Oil & Gas index is down 0.33% to quote at 25345.26. The index is down 2.92 % over last one month. Among the other constituents of the index, Bharat Petroleum Corporation Ltd decreased 0.8% and Petronet LNG Ltd lost 0.73% on the day. The BSE Oil & Gas index went down 2.18 % over last one year compared to the 8.29% surge in benchmark SENSEX. Oil & Natural Gas Corpn Ltd has added 8.76% over last one month compared to 2.92% fall in BSE Oil & Gas index and 1.18% drop in the SENSEX. On the BSE, 34222 shares were traded in the counter so far compared with average daily volumes of 4.91 lakh shares in the past one month. The stock hit a record high of Rs 344.6 on 01 Aug 2024. The stock hit a 52-week low of Rs 227 on 04 Jun 2024.Powered by Capital Market - Live