ONGC shares are gaining today. At 11:40 a.m. IST, 23rd October, 2025, ONGC’s share price is up by 1.14%, trading at Rs 250.95. Nifty 50 index is up by 0.70% at this time. In the past 5 days, ONGC’s stock has gained 1.74%.
Oil prices jump after US sanctions on Rosneft and Lukoil
ONGC shares are gaining today because of the sharp increase in oil price today. This, after US imposed sanctions on two biggest Russian oil companies, Rosneft and Lukoil, yesterday. These sanctions came as Russia refuses to agree to a ceasefire in Ukraine.
These sanctions have caused oil prices to jump sharply today. At this time, Brent crude for December delivery is up by 3.59%, trading at $64.84 per barrel. WTI crude is up by 3.79%, trading at $60.73 per barrel.
There are also reports that India and US are close to reaching a trade deal. As part of this trade deal, US will reduce import tariffs on Indian goods in return for India reducing its purchase of Russian oil.
Currently, Indian buys around one-third of its oil from Russia. Russian is selling oil at a cheaper price than other oil producers because of the sanctions that it faces from Europe and USA due to its ongoing war in Ukraine.
Global oil prices may go up if India reduces oil purchases from Russia
If India reduces its oil imports from Russia considerably, then global oil prices may go up. This many benefit oil & gas producers like ONGC. India is the third biggest oil buyer in the world.
Oil India is another major oil & gas producer. Its share price is up by 1.72% at this time, trading at Rs 413.60.
ONGC’s stock has underperformed in 2025
Year-to-date in 2025, ONGC’s stock price is up by 5.91%. Nifty 50 index has gained 9.71% in this period. ONGC’s stock has underperformed the Nifty 50 index by more than 3% in 2025. 52-week high price of the stock currently is Rs 278.15. 52-week low price of the stock is 205. The stock is currently trading at 12-month trailing Price-to-Earnings (P/E) ratio of 8.76. Nifty oil & gas index currently trades at an average P/E ratio of 12.38. ONGC’s stock is currently valued at less than that of many of its peers in the oil & gas industry.
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Source: NSE
