ONGC

December 2, 2024 6:56 PM

Govt withdraws windfall tax on ATF, crude, petrol, and diesel, easing burden on oil companies

The government on Monday announced the withdrawal of the windfall tax on Aviation Turbine Fuel (ATF), crude oil, petrol, and diesel through a notification introduced in the Lok Sabha. The decision comes as a major relief for oil companies like Reliance Industries and ONGC, which had been bearing the burden of the tax since its imposition in July 2022. The windfall tax was initially introduced to capture a portion of the excess revenue earned by oil companies due to soaring global crude prices a...

November 25, 2024 1:33 PM

Technology solutions provider Corporate Infotech bags seven year contract from ONGC for IT services

Technology solutions provider Corporate Infotech Pvt Ltd (CIPL) has received a seven-year contract from state-owned Oil and Natural Gas Corporation (ONGC) for an overhaul of IT infrastructure. "ONGC awards Corporate Infotech Rs 98 crore contract for on-premise IT Infrastructure as a Service (IaaS) on 'Pay-per-Use' Model. The contract will be executed over a period of seven years by September 2031," CIPL said in a statement. This project is aimed at augmenting ONGC's IT hardware infrastructure ...

June 25, 2024 11:44 AM

Indian stock market opens higher; Bank Nifty at all-time high

Indian benchmark indices opened higher on Tuesday, with the Sensex starting at 77,507.32, up 166.24 points, and the Nifty rising by 41.55 points to reach 23,579.40. Among the Nifty companies, 44 stocks gained while 5 declined in early trade. The Bank Nifty index surged over 200 points to hit a new all-time high. Sectoral indices such as banks, auto, financial services, media, metal, and pharma saw gains, while FMCG, IT, and realty sectors opened in the red. Nifty's top losers were BPCL, ONGC,...

May 21, 2024 1:37 PM

ONGC reports highest-ever standalone profit in FY24

ONGC reported its highest-ever standalone net profit of Rs 40,526 crore in FY24 on Monday. In a stock exchange filing, ONGC announced that its consolidated net profit for FY24 reached an all-time high of Rs 57,101 crore, positioning itself as a frontrunner in the energy sector. The company's crude oil production also witnessed a surge of 2.4 percent on a quarterly basis, reaching 5.359 million metric tonnes (MMT) in the fourth quarter of FY24. However, ONGC's standalone gross revenue declined ...