The nation's top oil and gas producer got $75.73 for every barrel of crude oil it produced and sold in Q3FY22 as compared to $43.20 a barrel realisation in the same period of 2020-21
Higher oil realisations and modest production would spur up ONGC's earnings before interest tax and depreciation and amortization (EBITDA) by 1.8x in the October-December quarter.
The two major OMCs were exhibiting a mixed trend on the charts, with HPCL reflecting positivity, while BPCL struggling to hold ground.
There are other stocks which may show breakout structure, but still possesses the risk of high volatility and momentum, that may shift in any situation.
Stocks like HOEC, HPCL, ONGC and Pidilite can rally up to 10 per cent in the near term.
Rising share of listed public sector companies don't have a single woman director
She was the senior-most ONGC Board Member after Kumar's retirement
Consumer Durable stocks are also likely to be in focus on Monday after the company have hiked prices for the third time this year
Assam CM had earlier this year written to PM Modi requesting him to consider transferring all assets of ONGC in the northeastern region to Oil India Ltd
Maruti Suzuki India (MSI) is currently analysing customer feedback to ascertain if the Jimny brand can be introduced in India
when the overall market translates form a negative sentiment to a positive outlook, the consolidating stocks are expected to robustly breakout on the upside
Analysts expect under-performance by FMCG shares to continue