ONGC To Mull Dividend Soon, Shares Slip 32% From Highs, Buy?

Leading Maharatna Oil And Natural Gas Corporation share price today slipped 1.91% to Rs 234.15 per share on Bombay Stock Exchange (BSE) as Sensex declined 116.67 points to 80,630.11 in late afternoon trade. The PSU stock witnessed declined of 32.05% from its 52-week high price of Rs 344.60 per share at today’s price of Rs 234.15 per share. Meanwhile, Board of Directors of the PSU are all set to convene a meeting on May 21 to consider financial results and final dividend, if any, according to the regulatory filing. The market cap of the company stood at 2,94,567.24 crore with return on equity (ROE) at 11.94%. However, ONGC shares surged 208.23% in last 5-years.

FII/FPI holdings plunged from 7.53% to 7.11% for March 2025 quarter. On the other hand, number of FII/FPI investors came down from 817 to 793 for March 2025 quarter. Life Insurance Corporation Of India has 9.29% stake in ONGC for March 2025 quarter with 1,168,794,453 share of the Maharatna PSU. LIC stake remained stable since September 2024 and declined from 9.69% in June 2024 quarter. Check key details below:

ONGC To Consider Dividend Soon, Shares Plunge 32.05% From 52-Week High, Buy?

ONGC To Consider Results, Dividend

According to the BSE filing of the PSU dated May 8, 2025, “Pursuant to Regulation 29 and 50 read with Regulation 33 and 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, it is hereby informed that a meeting of the Board of Directors of the Company is scheduled to be held on Wednesday, the 21st May, 2025, inter-alia, to consider and approve the following business items:-

Audited Financial Results (Standalone and Consolidated) of the Company for the Quarter and Year ended 31st March, 2025; and
Recommendation of Final Dividend, if any, for the financial year ended on 31st March, 2025.” Meanwhile, the PSU has yet to issue record date for final dividend.

Should You Buy ONGC Shares?

Leading brokerage firm Mehta Equities Ltd appears bullish on ONGC and recommended buy call for short term with target price of Rs 255 per share and urged to maintain stop loss at Rs 230. The analyst said the PSU stock is trading above the anchor VWAP support of Rs 236.93, with a bullish candlestick pattern. It has been aligned with key EMAs and the 50-day SMA, making the risk-to-reward attractive. RSI (14) remains neutral at 48 and technical indicators indicate that momentum could improve soon.

ONGC Share Performance

The 52-week high price of ONGC share on BSE is Rs 344.60 per share (as on 01/08/2024) and 52-week low price is Rs 205.00 per share (as on 07/04/2025), respectively. ONGC stock price slid 6.12% in last 2-weeks, witnessed correction of 10.77% in last 6-months, and plunged 15.43% in last 1-year. The stock zoomed 42.01% in last 2-years, and surged 40.22% in last 3-years.

Why ONGC Shares Slipped Over 15% In 1-Year? According to Mr. Gaurav Goel, (Entrepreneur and SEBI Registered Investment Advisor), “ONGC stock has been on a decline trend lately. The main reason for this is the fall in international oil prices. Brent oil dipped by almost USD 10/barrel since April due to weak oil demand globally, while supply pressures have eased off considerably. Moreover, the financial performance of the stock has been patchy recently. Net profit and revenue declined in the 3rd quarter of the previous FY. FII holdings have also slipped in the stock.”

ONGC Dividend In 2025

As per the regulatory filing of the Maharatna PSU dated January 31, 2025, it recommended 2^ndinterim dividend of Rs 5/- per equity share of the face value of Rs 5/- each for the FY 2024-25.

ONGC Dividend History

Oil And Natural Gas Corporation recommended a total of 56 dividends since 2003. In last 1-year duration, ONGC announced an equity dividend of Rs 13.50 per share. ONGC offers a dividend yield of 5.79%.

ONGC Stock Split History

ONGC split its face value once since 2011. It last sub-divided the face value of its shares from Rs 10 to Rs 5 in 2011.The shares traded ex-split as on February 8, 2011.

ONGC Bonus Share History

ONGC recommended 3 bonus shares since October 27, 2006. The PSU announced its last bonus share in the proportion of 1:2 with ex-date fixed as December 15, 2016.

Disclaimer: The stock has been picked from the brokerage report of Mehta Equities. Moneydaily.in, the author, and the respective brokerage house will not be held accountable for any losses caused as a result of decisions based on the article. Moneydaily.in advises readers to do their own research or consult a SEBI registered investment advisor before making any investment decisions.