{"id":"f-e550251d2f-f74e5f14-3320-5724-9887-9ad3432f7294","title":"ONGC, Oil India shares in focus as oil prices continue to edge higher on Iran concerns","description":"While shares of both ONGC and Oil India have outperformed in the last three sessions, their returns over the last 12 months are in the negative.","timestamp":0,"category":"business","headline":"ONGC, Oil India shares in focus as oil prices continue to edge higher on Iran concerns","modifiedHeadline":"ONGC, Oil India Stocks Rise on Iran Oil Fears","subCategories":["scid_0f705da1"],"region":"IN","bundleMetaData":{"bundleId":"ece1ae3d-908e-48c7-9e53-a4aa910ee4db","bundleTitle":"Grow Your Money","cardData":null},"iabCategoryId":"68","fcSummary":"ONGC and Oil India shares are in focus due to rallying oil prices, hitting a 12-week high amid Iran protests and potential US intervention. Both stocks have been on a three-day winning streak. Rising crude oil prices could significantly boost their revenues.","summary":"ONGC, Oil India shares in focus amidst Iran concerns fueling oil price surge. Past year returns lag despite recent outperformance.","ctaUrl":"https://trends.glance.com/newz/Economy/IN/en/cnbc-tv18/f-e550251d2f-f74e5f14-3320-5724-9887-9ad3432f7294","sourceUrl":"https://www.cnbctv18.com/market/ongc-oil-india-shares-in-focus-as-oil-prices-continue-to-edge-higher-on-iran-concerns-19820496.htm","bannerImage":"https://g-mob.glance-cdn.com/public/fc/image/_8-IsX-38SR0.webp","content":"Shares of Oil & Natural Gas Corporation Ltd. (ONGC) and Oil India Ltd. will be in focus on Wednesday, January 14, after oil prices continued to rally in the global markets.\n\n
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\n Both the stocks are already on a three-day winning streak. Shares of Oil India have risen 9.3% in the last three sessions, while those of ONGC are up 5.2% during this period.\n
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\n Oil prices in the global markets are at the highest level in 12 weeks with Brent Crude now trading close to the $66 per barrel mark. Concerns around protests in Iran and a possible US intervention are keeping prices at elevated levels. Prices had declined to multi-year lows just last month over potential easing of the Russia-Ukraine war.\n\n
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\n Every $1 per barrel rise in crude oil prices could benefit revenues of ONGC and Oil India between ₹300 crore to ₹400 crore.\n
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\n Both ONGC and Oil India's shares gained on strong volumes on Tuesday. ONGC saw 2.25 crore shares traded compared to its 20-day average of 83.4 lakh shares. Of this, 1.16 crore shares were marked for delivery. Oil India saw over 1.2 crore shares traded, significantly higher than its 20-day average of 16.2 lakh shares, of which, 60.5 lakh shares were marked for delivery as well.\n\n
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\n Shares of ONGC ended 3.3% higher on Tuesday but have underperformed in the last 12 months with a 6.5% decline, while those of Oil India ended 5.6% higher at ₹449.5. The PSU stock has declined 3.5% in the last 12 months as well.","readDurationInMinutes":"3","author":{"name":"CNBC TV18","logo":"https://glance-mob.glance-cdn.com/public/bubble/jpeg/ecc3d19b-fc52-4a39-881c-5b0936ae723b.jpeg"},"ism":false,"analyticsResponses":[{"measurementId":"383191425","type":"COMSCORE"}],"pointerSummary":["ONGC & Oil India stocks rally on rising oil prices amid Iran protests.","Brent Crude nears $66, boosting ONGC & Oil India revenues by ₹300-400 cr per $1 rise.","Trading volume surges for both ONGC and Oil India shares, outpacing 20-day averages."],"tags":["ONGC","OilIndia","CrudeOilPrices","BrentCrude","IranProtests","USIntervention","StockMarket","OilAndGas","GlobalMarkets","Commodities","ShareTrading","RevenueIncrease"],"consent":true,"redirectionEnabled":false}

ONGC, Oil India shares in focus as oil prices continue to edge higher on Iran concerns

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