ONGC Stocks Plunge as Markets Turn Bearish (2023)

FAQs

Why is ONGC stock down? ›

The cash reserves of the company have been depleting. After 2016-17 the reserves have seen a sharp fall. The company has been pushing out dividends on a large scale. Between 2014 and 2022, ONGC diverted its profits by way of dividends to the extent of Rs 607.7 bn, which amounted to 45-50% of its profits.

The September 11 attacks caused global stock markets to drop sharply. The attacks themselves caused approximately $40 billion in insurance losses, making it one of the largest insured events ever. Downturn in stock prices during 2002 in stock exchanges across the United States, Canada, Asia, and Europe.

Stock price target for Oil & Natural Gas Corporation Limited ONGC are 163.43 on downside and 166.03 on upside.

Considering the great conjunction in addition to the cushion provided by the high dividend yield of 13.6% in FY23, we retain our BUY rating on ONGC shares with a target price of ₹198, making it the top idea for 2023 in the sector," it suggested.

ONGC today has a host of problems – no major discoveries in the recent past, old, depleting fields, large number of sick and non flowing wells, high water production, old equipments, installations and pipelines which are not only badly in need of replacement, but are also safety and environmental hazards.

ONGC is one of the potential top 26% undervalued companies !

"In the first half of 2023, the S&P 500 is expected to re-test the lows of 2022, but a pivot from the Federal Reserve could drive an asset recovery later in the year, pushing the S&P 500 to 4,200 by year-end," the investment bank said in a research note.

Largest percentage changes

Some sources (including the file Highlights/Lowlights of The Dow on the Dow Jones website) show a loss of −24.39% (from 71.42 to 54.00) on December 12, 1914, placing that day atop the list of largest percentage losses.

What is the share price of ONGC in 2023? ›

According to the table, ONGC's share price is expected to experience significant fluctuations throughout the year, with a maximum price of ₹283.09 in December 2023 and a minimum price of ₹111.59 in May 2023.

Motilal Oswal Financial Services has buy call on Oil India with a target price of Rs 315. The current market price of Oil India is Rs 258.15. Oil India, incorporated in the year 1959, is a Mid Cap company (having a market cap of Rs 27993.92 Crore) operating in Gas & Petroleum sector.

Reuters Promoters held 58.89 per cent stake in the company as of 31-Dec-2022, while FIIs owned 8.43 per cent, DIIs 19.26 per cent. Motilal Oswal Financial Services has buy call on Oil And Natural Gas Corporation with a target price of Rs 215.

ONGC dividend record date has also been fixed by the board. ONGC Dividend 2023, ONGC Dividend 2023 Amount, ONGC Dividend Record Date 2023: Oil and Natural Gas Corporation (ONGC) declared paying the second interim dividend to its shareholders for the financial year 2022-23.

Promoters held 66.13 per cent stake in the company as of 31-Mar-2023, while FIIs owned 7.84 per cent, DIIs 20.89 per cent.

The Oil and Natural Gas Corporation Limited (ONGC) is an Indian central public sector undertaking under the ownership of Ministry of Petroleum and Natural Gas, Government of India.

ONGC has also maintained its position as the 3rd ranked Exploration and Production company globally.

ONGC's cash reserves are down from Rs 10,799 crore at the end of FY14 to Rs 968 crore at the end of FY20, largely on account of acquisitions of controlling stake in Hindustan Petroleum Corporation Ltd (HPCL) and majority stake in Gujarat State Petroleum Corporation's (GSPC) KG Basin gas block in FY18.

The shares of the company have zoomed from Rs 41 in May 2021 up to the current levels logging a multibagger return of 525 percent in just 20 months.

Past 10 year's financial track record analysis by Moneyworks4me indicates that Oil India Ltd is a average quality company. 2. Is Oil India Ltd undervalued or overvalued? The key valuation ratios of Oil India Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

Will ONGC issue bonus shares? ›

Further, the company has also approved a bonus issue in the proportion of 1:1, which means for every equity share an investor holds, an addi...

Through the first quarter of 2024, analysts expect the S&P 500 to climb 8 percent, to 4,289 from 3,970.99 when the survey closed on March 24. That follows a year of optimism in 2022, when each quarterly survey predicted that the market would be higher in a year.

So when will stocks fully recover from the bear market? Many experts appear optimistic it will happen in 2023. But unfortunately for eager investors, it's difficult to say.

What Are The Causes? The reasons for the stock market to be down can vary, and various factors can cause it. Some reasons could be based on economic indicators such as rising interest rates, high inflation, or a recession. Political uncertainty, natural disasters, or a crisis in a specific industry could also cause it.

According to Seeking Alpha — which analyzed every bear market since 1928 — the longest-ever bear market occurred in 1973-74, when it lasted 630 days, or about 21 months. The stock market shed about 48% during that period. The second-longest bear market, from 1980-82, lasted 622 days.

Despite what you might read on social media, stocks that never go down don't exist. If you want a completely safe investment with no chance you'll lose money, Treasury securities or certificates of deposit (CDs) may be your best bet.

The best recession stocks include consumer staples, utilities and healthcare companies, all of which produce goods and services that consumers can't do without, no matter how bad the economy gets.

What is the yearly dividend of ONGC? ›

Oil & Natural Gas Corpn Ltd Dividend related ratios:

Current Dividend Yield: 8.45% Annual dividend payment: ₹14.

In our May Short-Term Energy Outlook (STEO), we expect the U.S. benchmark Henry Hub natural gas spot price to increase throughout 2023 from its recent lows. In April, the Henry Hub price averaged $2.16 per million British thermal units (MMBtu).

In our forecast, U.S. natural gas production averages 100.9 Bcf/d for 2023, 3% more than in 2022. However, if production were to increase by more than our forecast, it could put downward pressure on natural gas prices.

View 29 reports from 9 analysts offering long term price targets for Tata Steel Ltd.. Tata Steel Ltd. has an average target of 120.71. The consensus estimate represents an upside of 15.35% from the last price of 104.65.

India has substantially increased its crude oil imports from the US, with its share in India's crude basket hitting a record 0.88 million b/d in December 2022, commerce ministry data showed.

Russia now the biggest Oil Supplier to India: Key Points

During the period from April to February, India's imports of Russian oil surged to $27 billion, placing Russia as the second-largest crude oil exporter to India in FY23, following imports from Iraq which totaled $30 billion.

Where Does India Import Oil From? India imports most of its oil from the Middle East, with Iraq and Saudi Arabia being primary. Here is a quick look at India's crude oil imports according to regions in 2021: Middle East: 52.7%

Through Energy Strategy 2040, ONGC has set a target to double its Oil and Gas production from its domestic, as well as overseas fields by the year 2040. ONGC also plans to expand its refining capacity three-fold alongside diversification into renewables.

What is the price of Tata Power in 2030? ›

The company has fixed the record date as January 18.

Oil & Natural Gas stock (symbol: ONGC. NS) underwent a total of 3 stock splits.

The brokerage has listed the top 10 PSU stocks that are paying high dividends. These are: As per the brokerage, Indian Oil Corp tops the list in PSU stocks with a dividend yield of 10.9%, followed by Steel Authority of India (SAIL) which has a yield of 10.6%.

In its coal price predictions, Bank of America (BofA) Global Research saw the fuel averaging $300/tonne in 2023 and $260 in 2024, dropping from estimated $334.1 in 2022. BofA's coal price forecast for 2025 projected that thermal coal fall further to $190 in 2025 and $140 in 2026.

India has also undertaken an initiative to produce 1.2 billion tonnes of coal by 2023-24. Coal is observed to be the single biggest contributor to anthropogenic climate change, with coal-based electricity being responsible for nearly 30% of global greenhouse gas (GHG) emissions.

Compared to the current share price of ₹224, the company appears slightly overvalued at the time of writing.

The bear market was confirmed in June 2008 when the Dow Jones Industrial Average (DJIA) had fallen 20% from its October 11, 2007 high. This followed the bull market of 2002–07 and was followed by the bull market of 2009–2020.

While most investors watched their fortunes evaporate during the 1929 stock market crash, Kennedy emerged from it wealthier than ever. Believing Wall Street to be overvalued, he sold most of his stock holdings before the crash and made even more money by selling short, betting on stock prices to fall.

What stocks were hit the hardest in the recession? ›

Many market analysts theorize that the Black Monday crash of 1987 was largely driven simply by a strong bull market that was overdue for a major correction. 1987 marked the fifth year of a major bull market that had not experienced a single major corrective retracement of prices since its inception in 1982.

Michael Burry from “The Big Short” took a big bet when he shorted the American housing market. After the housing bubble crashed in 2008, he made $100 million for himself, with investors in his fund making a further $700 million.

1. Warren Buffett. In October 2008, Warren Buffett published an article in the New York TimesOp-Ed section declaring he was buying American stocks during the equity downfall brought on by the credit crisis.

The recession lasted 18 months and was officially over by June 2009. However, the effects on the overall economy were felt for much longer. The unemployment rate did not return to pre-recession levels until 2014, and it took until 2016 for median household incomes to recover.

Obviously, stocks did horribly during the Great Depression. But bonds did well. Interest rates and bond prices are two ends of a seesaw.

In October, 1929, the bubble burst, and in less than a week, the market dropped by almost half of its recent record highs. Billions of dollars were lost, and thousands of investors were ruined. After the stock market crash, President Hoover sought to prevent panic from spreading throughout the economy.

White collar jobs fared better than blue collar jobs and those lucky enough to work for a city, county, state, or at one of the military facilities generally held on to jobs. Farm families were mostly well positioned (see "Kitsap County").

For investors, “cash is king during a recession” sums up the advantages of keeping liquid assets on hand when the economy turns south. From weathering rough markets to going all-in on discounted investments, investors can leverage cash to improve their financial positions.

The best recession stocks include consumer staples, utilities and healthcare companies, all of which produce goods and services that consumers can't do without, no matter how bad the economy gets.

Which stocks to avoid during recession? ›

Stocks of highly-leveraged companies

Companies carrying high levels of debt on their balance sheets should be avoided during a recession. The price of a highly indebted company is more likely to fall during a recession.

4, 1987, the broad U.S. stock market lost 33.5%. If you were looking at your portfolio at the time, it probably looked like a disaster. Some 20 months later, the market had fully recovered and would go on to achieve new highs.

Can it happen again? Probably not. The Dow plummeted 22.6% on that day, a date that has since been immortalized as Black Monday.

Markets don't always decline in recessions. The average decline for the S&P 500 during the past nine recessions is 1.5% while the median decline is 3.4%.