Oil and Natural Gas Corporation (ONGC) Weekly Analysis
Price & Volume
The stock saw a slight decrease of 0.98% this week, closing at 247.35. This movement occurred within a narrow trading range of 0.87%. The stock has experienced positive price movements for three consecutive weeks prior to this. Average daily trading volume decreased by 33.81% compared to the previous week.
Technicals
This week, the stock closed at 247.35, up 0.98% from last week. The price is trading below its 20-week moving average (MA), which is trending down, suggesting short-term weakness. However, the 50-week MA is trending up, indicating a longer-term positive trend. Momentum is neutral, with the RSI at 47.69, slightly up WoW. MACD histogram shows a positive but narrowing trend. Volatility, measured by Bollinger Band width, is at 8.60%, slightly wider WoW.
Fundamentals
Oil and Natural Gas Corporation reported a net profit of ₹13,678 crore for the Mar 2026 quarter, a significant 52.6% increase year-over-year. Revenue also saw a modest 3.6% year-over-year growth. The operating margin for the quarter stood at 15.0%. The company currently trades at a Price-to-Earnings (PE) ratio of 9.5x and a Price-to-Book (PB) ratio of 0.9x. These figures reflect recent performance trends and current market valuation.
News
During the week of July 13-17, 2026, ONGC was mentioned in a "Stocks to Watch" list, though specific details were limited due to metadata-only extraction. The broader energy sector experienced significant volatility. Oil prices extended gains for a fourth consecutive day, surpassing $85 per barrel amid ongoing Middle East tensions. This surge in oil prices contributed to a widening of India's merchandise trade deficit in June to $30.4 billion, driven by higher crude import costs. Consequently, the Indian Rupee weakened, slipping past 96 against the US dollar for the first time since May. Additionally, the government adjusted petroleum export duties, increasing them for diesel and jet fuel while decreasing the levy on petrol.
Events
Weekly Snapshot
Highlights
- The stock declined 0.98% this week, ending a three-week positive streak, as trading volume decreased significantly by 33.81%.
- Technical indicators show mixed signals, with the short-term 20-week MA trending down while the longer-term 50-week MA trends up, and momentum remains neutral.
- Strong profitability in the Mar 2026 quarter, with net profit up 52.6% YoY to ₹13,678 crore and revenue up 3.6% YoY, supports current valuation metrics.
- Rising oil prices, driven by Middle East tensions, impacted the Indian Rupee, causing it to slip past 96 against the US dollar.
- The company's PE ratio is 9.5x and PB ratio is 0.9x, within historical ranges observed between August 2025 and July 2026.
What This Means
ONGC experienced a slight price dip this week after a positive streak, accompanied by reduced trading volume. Technical indicators present a mixed outlook, with short-term trends weakening while longer-term trends remain positive. Strong recent quarterly results show improved profitability and revenue, with current valuations trading within historical norms. External factors, such as rising global oil prices due to geopolitical tensions, have influenced the Indian Rupee and trade deficit, which could indirectly affect the company.
Latest Quarter Info
The latest quarterly snapshot for March 2026 indicates a steady revenue performance with both quarter-over-quarter (QoQ) and year-over-year (YoY) growth of approximately 3.8% and 3.6%, respectively. Profitability shows a more dynamic trend, with net profit increasing significantly by 14.5% QoQ and a substantial 52.6% YoY. This divergence suggests that while revenue growth is consistent, factors such as expense management or other income may have contributed to the stronger profit uplift, particularly on a YoY basis. The operating margin remained stable at 15.0%, indicating consistent operational efficiency. The positive trends in net profit and EPS, especially YoY, highlight an acceleration in earnings generation, contrasting with the more moderate revenue momentum.