Oil and Natural Gas Corporation Limited, popularly known as ONGC, is an Indian Public Sector petroleum company. It was founded in the year 1956 with current headquarters at Dehradun, India. As per 2008 official annual reports, the company has earned revenue amounting up to $ 24.032 billion and its net income stands at $ 4.934 billion. Presently a huge amount of employee base is being supported by the company which is a staggering figure of 34,000.
The Oil and Natural Gas Commission was formed in the year 1956. In 1959, Indian Parliament by an Act converted the commission into a statutory body. Currently the Indian Government holds 74.14% equity stake in the company. ONGC has earned the reputation of becoming the largest profit making corporation of India. It alone contributes 77% and 81% respectively to India’s crude oil and natural gas production respectively.
ONGC has earned several titles and recognitions from worldwide sources like ‘Forbes’ magazine, ‘Global Finance’ magazine etc, for its massive and continuous growth story. Moreover, Business Week, Business Baron 500, Business Today 500 and Economic Times 500 have recognized ONGC as the most valuable Indian corporate in terms of Net Profits, Net Worth and Market Capitalization.
Among the many achievements achieved by the ONGC, a noteworthy one is its self-reliance and development of core competence in exploration and production activities touching the ranks of other leaders in its niche. ONGC has touched the foreign bases with its subsidiary, ONGC Videsh Limited (OVL). Currently major investments in place are in Vietnam, Sakhalin and Sudan.
If you want to know details of the performance of its stocks or you have vital reports to discuss about the market strength of the company you can include them for peer review or expert comments. We grow together. We are eager to provide you with expert trading tips, buying and selling cues, stock-trading strategies for your both short term & long term financial planning.
Tags: Oil and Natural Gas Corporation Limited, ONGC Report, Sell ONGC, Tips ONGC
Hold ONGC with short-term target of Rs 1150 and stop loss of Rs 1075, says Prasad Kushe, technical analyst, on NDTV Profit. The stock is currently trading at Rs 1096.95, down 0.4% on the BSE.
Buy ONGC with target of Rs 1125 and stop loss of Rs 1095, says Prakash Gaba, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 1117.55, up 1.1% on the BSE.
Buy ONGC because downside is very limited in this counter, says Naresh Pachisia of SKP Securities on NDTV Profit. The stock is currently trading at Rs 1095, up 0.06% on the BSE.