Fri Apr 04 04:40:00 UTC 2025: **ONGC Share Price Plunges 6%, Dragging Down Oil and Gas Sector**

**Mumbai, India** – Oil and Natural Gas Corporation (ONGC) shares experienced a sharp decline of 6% today, closing at Rs 228.4. This drop contributed to a broader downturn in the BSE OIL & GAS index, which fell 2.9% to 24,482.3. Other significant losers in the sector included Petronet LNG (down 3.6%) and Reliance Industries (down 2.8%).

Over the past year, ONGC’s share price has fallen 16.1%, from Rs 272.3 to Rs 228.4, while the BSE OIL & GAS index has decreased by 13.2%. The year-long underperformance highlights a challenging period for the oil and gas sector, with ADANI TOTAL GAS, IOC, and GUJARAT GAS among the index’s worst performers, experiencing declines of 39.2%, 25.5%, and 25.3% respectively.

Despite the recent drop, ONGC reported a 1.8% year-on-year increase in net profit for the quarter ending December 2024, reaching Rs 101,483 million. However, net sales decreased slightly by 0.8%. The company’s full-year results showed a significant 67.7% increase in net profit for FY24, although revenue fell by 6.9%. ONGC’s current price-to-earnings ratio stands at 7.1.

The broader market also experienced a downturn, with the BSE Sensex falling 0.8% to 75,673.9 and the NSE Nifty down 1.1% at 22,992.2. Tata Motors and Sun Pharma were among the top losers in the Sensex.

While the overall market shows growth over the past year, the significant drop in ONGC’s share price and the underperformance of the oil and gas sector raise concerns for investors. Equitymaster, a financial research firm, is inviting public comment on the market situation.

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