ONGC leads Sensex on Tuesday, ahead of its Q3 result
Shital Jibhe / 31 Jan 2017
The Indian markets made a weak opening on Tuesday. A day before the Union Budget, BSE Sensex opened in green but soon shifted to the red patch, whereas, Nifty opened in red. Besides, the International markets also closed in red on January 30, 2017.
The Indian markets made a weak opening on Tuesday. A day before the Union Budget, BSE Sensex opened in green but soon shifted to the red patch, whereas, Nifty opened in red. Besides, the International markets also closed in red on January 30, 2017.
In the light of this, Oil and Natural Gas Corporation (ONGC) which will announce its Q3 numbers on Tuesday, is leading the Sensex. According to market experts, ONGC is likely to report strong numbers in this quarter. Its operating profit may increase 10.3 per cent quarter-on-quarter to Rs 10,041 crore and the margin may expand 250 basis points to 52 percent in Q3.
ONGC oil price net of subsidy during this quarter is estimated at USD 50.8 a barrel against USD 46.1 a barrel in the previous quarter.
Headquartered in Dehradun (Uttarakhand), ONGC is a public sector undertaking and comes under the Ministry of Petroleum and Natural Gas.
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