Table of Contents
What happen to ONGC in 2011?
The Cabinet had on December 1 approved the sale of government’s 5 per cent stake in ONGC to raise up to Rs. 13,000 crore. The share stake sale of IOC, which was previously said to take place in the last week of January 2011, has been pushed to 2011-12 fiscal.
Why is ONGC falling down?
ONGC’s share price has underperformed the benchmark over the past four years due to a decline in domestic oil & gas production. Due to lower production growth on a sustainable basis, despite cheaper valuations, the brokerage does not recommend that long term investors add the stock as it is a play on commodity prices.
Both these stocks are available at very attractive valuations, and there is no reason why the discounting should be so low. For example, ONGC trades at a p/e of just 5-6 times, one year forward earnings. In terms of price to book value too, these stocks are highly undervalued at around 0.50 to 0.60 times.
Is ONGC debt free?
As you can see below, at the end of March 2021, Oil and Natural Gas had ₹1.24t of debt, up from ₹1.17t a year ago. Click the image for more detail. However, it does have ₹191.7b in cash offsetting this, leading to net debt of about ₹1.05t.
Should you be worried about ONGC stock?
In general, triggers for the ONGC stock are few and far between. A sustained weakness in production has been a concern. For the nine months ended 31 December, crude oil output fell 4.3\% year-on-year whereas gas production fell 2\%. “The confidence on production improvement is low,” said an analyst seeking anonymity.
What happened in the August 2011 stock markets?
The August 2011 stock markets fall was the sharp drop in stock prices in August 2011 in stock exchanges across the United States, Middle East, Europe and Asia.
What happened to the CAC 40 on 18 August 2011?
It fell by 5.5\% on 18 August 2011. The CAC thus moved from 3,800 points to 3,000 points in 10 days. The CAC 40 closed at 2999.54 on 5 September 2011 compared with 3982.21 on 30 June 2011 (and 4157 in February). Germany: The DAX fell by 5.8\% on 18 August 2011.
What was the intraday low of S&P in 2011?
S&P 500 entered a short-lived bear market between 02nd May 2011 (intraday high: 1,370.58) and 04th October 2011 (intraday low: 1,074.77), a decline of 21.58\%. The stock market rebounded thereafter and ended the year flat.