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Informist, Friday, May 23, 2025

MUMBAI - Oil and gas stocks are expected to see some consolidation in the coming weeks and move in a tight range, after performing better than the benchmark Nifty 50 this calendar year so far, technical analysts said. The Nifty Oil & Gas index is not expected to see any big movement as long as they trade between 11250.50 points and 11650 points, a Mumbai-based technical analyst said. He does not expect the sectoral index to see any breakout for at least two more weeks.

Another analyst is seeing higher chances of movement in shares of Bharat Petroleum Corp., Hindustan Petroleum Corp., and GAIL (India) in the week ahead. This week, the Nifty Oil & Gas index closed at 11467.50 points, down 1.1% from the last week. In contrast, Nifty 50 closed at 24853.15 points, down 0.7%.

Earlier this week, Oil and Natural Gas Corp. and Oil India reported their March quarter earnings. ONGC reported a net profit of INR 64.5 billion, down 34% on year. Its revenue grew 1% on year to INR 349.8 billion. While its profit was below street estimates, the revenue was above it. ICICI Securities has downgraded its earnings per share estimates on the state-run enterprise by 18% for 2025-26 (Apr-Mar) and 15.5% for FY27 to factor in lower net realisations and minor changes to earnings of its subsidiaries. 

Oil India's revenue from operations was INR 55.19 billion, down 4% on year, and its profit was INR 15.9 billion, down 22% on year. While the top line and the bottom line both declined on year, they managed to beat analyst expectations. JM Financial has a buy rating on the stock as it expects Oil India's earnings to grow at a compound annual growth rate of 16% over the next three-five years.

Friday, oil prices fell nearly 2% and were set for their first weekly decline in three weeks after US President Trump recommended a 50% tariff on the European Union. Prices were also low due to expectations of potential output increases from the Organization of the Petroleum Exporting Countries and their allies. European natural gas prices are set to register fourth consecutive weekly increase of over a 3% gain, driven by global supply disruptions that threaten the continent's gas storage build-up for the upcoming heating season, according to a report by Kotak Securities.

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* PM Modi calls northeast Ashta Lakshmi, urges industries to invest in region
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* Ramco Cements Jan-Mar PAT slumps 74.5% YoY as sales fall 10.5%
* Earnings Outlook:Higher power output, regulated equity to lift NTPC top line
* Gujarat Petronet Jan-Mar PAT slumps 73% on year as sales fall 53%
* Analyst Concall: ONGC blames exploratory write-offs for 12% fall in FY25 PAT
* IPO Alert: Aegis Vopak Terminals sets price band at INR 223-INR 235 per shr
* NTPC Green Energy wins battery energy storage project from NHPC
* Deepak Fert Jan-Mar consol net profit rises over 23% YoY to INR 2.77 billion
* India's oil demand will rise faster than China's over next decade - Moody's
* GMR Airports arm to buy 70% stake in associate co for INR 413.3 mln
* Earnings Review: Higher costs, lower realisations pull ONGC's PAT dn 35% YoY
* Earnings Review: Oil India Q4 PAT, revenue fall YoY, but beat Street's view
* Analyst Concall: NHPC aims more projects with Indus Waters Treaty suspension
* KEI Ind buys 74,000 sq mtr of land from Rajasthan state body for INR 936 mln
* Amid weak global sentiment, India a rare source of energy demand: S&P Global
* Balmer Lawrie eyes 17% on-year top line growth in FY26 led by logistics ops
* NTPC Green Energy Jan-Mar consol PAT up nearly 3-fold on yr at INR 2.33 bln
* Analyst Concall:Power Grid misses FY25 capitalisation aim on land buy delays
* PRESS: ExxonMobil, BP, Shell in talks with ONGC to partner in KG basin block
* Adani Green Energy arm operationalises 187.5-MW incremental solar project
* Earnings Review: NHPC net profit grows for first time in 4 qtrs in Jan-Mar
* REPAT: Earnings Outlook: ONGC revenue, PAT seen down on year on output fall
* ACME Solar commissions second phase of ACME Sikar solar project in Rajasthan
* Coal India clarifies on media reports, says 2 arms' listing process underway
* Earnings Outlook: ONGC revenue, net profit seen down on year on output fall
* Coal India defers production target of 1 bln tn for seventh time, to FY29
* Earnings Outlook: Better realisation to aid Oil India's Jan-Mar PAT, revenue
* Analyst Concall:Petronet LNG eyes INR 50 bln capex FY26, sees 6% volume gain
* RIL moves SC against HC order favouring govt in gas migration case
* ACME Solar posts loss in Jan-Mar against net profit of INR 4 bln year ago
* PRESS: SEBI warns 2 Mauritius funds with investment in Adani shrs with fines
* Earnings Review: Power Grid's PAT matches Street, revenue dn marginally YoY
* Boosting bio-CNG output could help India achieve net-zero target: S&P Global
* HEG posts INR 616.8 million loss in Jan-Mar vs PAT yr ago
* Gujarat Gas Jan-Mar PAT falls 30% on year, sales down 1%
* Earnings Review: Petronet LNG beats Street view, bottom line rises 45% YoY
* Earnings Review: NLC India Q4 PAT surges on regulatory deferral acct gain
* Waaree Energies to buy 100% stake in Kamath Transformers for INR 2.93 bln
* Oil cos' ethanol blending 18.6% Nov-Apr, no decision so far on exceeding 20%
* India's Apr natural gas import bill rises 30% on yr as domestic output falls
* Reliance Power inks power purchase pact for 500MW Bhutan solar energy project
* GMR Airports passenger traffic up 8.4% YoY at 10.35 mln Apr, up 9% in FY25
* Premier Energies forms JV with Taiwan-based co for 2 GW/year mfg unit
* GRM Airport arm Delhi Intl Airport sells 50% shr in arm to Bird Flight Svcs

Following are the resistance and support levels for the stocks for next week as per calculations by Informist based on their prices on the National Stock Exchange:

End

US$1 = INR 85.22

Reported by Anand JC

Edited by Akul Nishant Akhoury

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