Commodities
ONGC Share Price Lags Despite Strong Industry Presence
The Oil and Natural Gas Corporation Limited (ONGC) is an Indian central public sector undertaking that accounts for around 70% of India's domestic production of crude oil and around 84% of natural gas.
According to the technical analysis, ONGC's last price is below its short and medium moving averages, with a Relative Strength Index (RSI) of 82.7 and a Moving Average Convergence Divergence (MACD) negative trend.
The company has a strong financial profile, with 12.58 billion shares outstanding and a long history of producing oil and natural gas in India.