ONGC, BEL, CIL, Oil India: Most CPSE stocks gain on Monday, March 30; NIFTY CPSE index advances up to 1.4%

Ongoing supply disruptions in key commodities such as crude oil and aluminium, along with concerns over the prolonged conflict’s potential impact on the global economy, kept investors on edge and heightened market volatility.

Benchmark indices, SENSEX and NIFTY50, were trading around 1.5% lower; however, select pockets were witnessing some buying.

One of the thematic indices that was trading in the green was NIFTY CPSE. The index rallied as much as 1.4% before cooling down but was still in the green.

The gainers on the index were ONGC, Coal India, Bharat Electronics (BEL), Oil India, NLC India, and more.

Of 11 stocks on the index, 6 were trading in the green and the remaining 5 in the red.

ONGC

Shares of ONGC were trading over 1% higher at ₹285 apiece on the NSE. The company on Sunday said that the Daman Upside Development Project (DUDP), in the western offshore, located about 180 km northwest of Mumbai and about 80 km south of Pipavav, Gujarat, with a capex of about $1 billion, achieved a significant milestone on March 29, 2026, by monetisation through flowing gas from Platform B-12-24P.

This platform has been successfully commissioned, and gas has been sent to the Hazira plant, it added.

NLC India

NLC India shares were also trading in positive territory. Neyveli Uttar Pradesh Power Limited, a joint venture company of NLC India Ltd and UP Rajya Vidyut Utpadan Nigam Ltd, has commenced production from a coal block in Jharkhand, according to a regulatory filing.

The development boosts domestic coal output for power generation, supporting India's energy security amid rising demand, it said.

"Subsequent to the commencement of overburden removal on December 19, 2025, the Pachwara South Open Cast Project successfully commenced coal production on March 29, 2026," the NLC said in the filing to BSE.

Coal India

Coal India shares were up 1.6% at ₹452.15 apiece on the NSE. The stock advanced up to 3% in the early trade as the company has received a Letter of Award (LOA) from Telangana Power Generation Corporation Limited for setting up a 750 MWh (187.5 MW for 4 hours) BESS Plant at Choutuppal.

Coal India said that the letter of award (LoA) for setting up a 750 MWh (187.5 MW for 4 hours) BESS plant at Choutuppal is ₹3.14 lakh/MW/month. The project is estimated to be executed within 18 months from the signing of BESPA.

BESPA stands for Battery Energy Storage Purchase Agreement.

It is a contract used in the energy sector, specifically for projects involving large-scale battery energy storage systems (BESS).

The estimated cost of the project is ₹1,057.09 crore.

CPSEs in India

CPSEs in India are Central Public Sector Enterprises—companies in which the government of India holds a majority stake (51% or more) and exercises control.

They are major contributors to government revenue (dividends and disinvestment are critical in sectors like energy, defence, mining, and infrastructure). These are often seen as policy-driven stocks in the market.

Types of CPSEs