Introduction
Oil and Natural Gas Corporation (ONGC) is India’s largest integrated energy company and one of the top ten energy companies in the world. ONGC is the largest producer of natural gas in India and the third largest producer of crude oil in the country. It is involved in exploration, production, refining and marketing of oil and gas. ONGC’s share price has been on the rise in the past few years, and it is currently the most valuable public sector enterprise in India. In this article, we will take a look at the current share price of ONGC and analyze its past performance.
ONGC Share Price History
ONGC’s share price has seen a steady increase in the last five years. In 2018, the share price was around Rs 140 and it has since risen to around Rs 190 in 2021. This is a gain of more than 35% in the last three years. The company has been able to maintain its share price despite the volatility in the global commodities market and the Indian economy.
Factors Affecting ONGC Share Price
The share price of ONGC is affected by several factors. The most important factor is the performance of the company. The company has been able to report good financial results in the past few years and this has been reflected in the share price. The company is also affected by the global commodities market and the performance of the Indian economy.
ONGC Share Price Outlook for 2023
The outlook for ONGC’s share price for the year 2023 is positive. The company is expected to continue its strong performance and the share price is expected to increase further. The company is also expected to benefit from the government’s plans to increase the production of oil and gas in the country. Additionally, the increasing demand for natural gas in the country is likely to benefit the company.
Risk Factors
Despite the positive outlook of ONGC’s share price, there are certain risks associated with it. The oil and gas industry is highly volatile and the company is exposed to the risk of an unforeseen event or a change in government policy. Additionally, the company is also exposed to the risk of a fall in the global commodity prices. These risks can have a negative impact on the share price of ONGC.
Conclusion
In conclusion, ONGC’s share price is expected to see an increase in the year 2023. The company is expected to benefit from the government’s plans to increase the production of oil and gas in the country. Additionally, the increasing demand for natural gas in the country is likely to benefit the company. However, the company is exposed to certain risks which can have a negative impact on the share price. Therefore, it is important to understand the risks associated with the company before investing in it.