Oil And Natural Gas Corporation Stock Update: ONGC Rises on Surging Crude Prices

Oil And Natural Gas Corporation (ONGC) is witnessing an uptick in Friday's intraday trade, with shares currently trading at ₹238.75, marking a gain of +0.62% from its previous close of ₹237.27. The stock opened higher at ₹239.90, climbed to an intraday high of ₹243.16, and saw a low of ₹237.64 during the session. Trading activity is robust, with volume surging to 11,594,478 shares, indicating significant investor interest in the upstream oil major. This positive momentum for ONGC comes amidst broader market pressures, as the underlying crude oil prices continue their upward trajectory.

52-Week Context of ONGC

While specific 52-week high and low figures for the current period are not immediately available in live market data, ONGC's current share price of ₹238.75 places it in a notable position relative to its recent past. Historically, the stock has seen an all-time high of ₹345.00 on August 12, 2024, and a more recent 52-week low of ₹227.60 on June 30, 2026. Today's move is pushing the stock further away from its recent lows, reflecting a potential shift in sentiment driven by external factors. ESDS Software Solution Stock Update: Share Price Hits Upper Circuit Again.

Latest Developments

The primary catalyst driving ONGC's robust performance today is the significant surge in global crude oil prices, which directly benefits upstream exploration and production companies. Brent crude, the international benchmark, has consistently traded above the critical $100-a-barrel mark and is now testing $110 a barrel. This sharp rise is attributed to escalating geopolitical tensions in the Middle East, particularly intensified US-Iran attacks on tankers and the Houthis' seizure of Yemen's Red Sea port of Mokha, near the vital Bab Al Mandab Strait, which handles a substantial portion of global oil supplies. These developments have heightened fears of prolonged supply disruptions, injecting a considerable risk premium into crude markets. For ONGC, as a major domestic oil and gas producer, higher crude prices translate into improved realisations and enhanced profitability, assuming stable production volumes. PC Jeweller Stock Update: Shares Slip Amid Profit Booking.

This positive sentiment is echoed by some analysts who have recently expressed a bullish outlook on upstream oil companies. Simply Wall St, for instance, revised ONGC's analyst price target higher earlier this week, citing updated assumptions and stronger revenue growth expectations. Similarly, TipRanks indicates a consensus "Buy" rating for ONGC from analysts, with an average price target that suggests significant upside potential from current levels. Recent news also indicates that the race for the ONGC chairman position has narrowed to seven candidates, though this development is less likely to be the immediate driver of today's price action compared to the soaring crude oil prices.

Outlook

Investors will closely monitor global crude oil price movements and any further developments in Middle Eastern geopolitics for cues on ONGC's trajectory through the remainder of the session. The resilience of the stock in a volatile market suggests continued sensitivity to energy commodity trends.

Disclaimer: The information provided in this article is based on news reports and is not intended as investment advice. Investing in stocks involves risk. LatestLY advises its readers to consult with a financial advisor before making any investment decisions.

(The above story first appeared on LatestLY on Sep 11, 2026 09:58 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).