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  5. ONGC shares surge over 4%, hit fresh 52-week high amid spike in crude oil

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ONGC shares surge over 4%, hit fresh 52-week high amid spike in crude oil

Abhishek Vasudev.jpg
By Abhishek Vasudev

2 min read | Updated on April 28, 2026, 13:37 IST

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SUMMARY

Global crude oil benchmark Brent Crude futures rose as much as 3.25% to hit $111.50 per barrel. On the MCX, crude oil futures for delivery on May 18 advanced as much as 3.225 to hit ₹9,399 per barrel.

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ONGC

ONGC shares climbed as much as 4.3% to hit a fresh 52-week high of ₹298.15. | Image: Shutterstock

Shares of the country's largest oil exploration company Oil and Natural Gas Corporation (ONGC) surged as much as 4.2% to hit a fresh 52-week high of ₹297.85 on the National Stock Exchange (NSE) amid a spike in crude oil prices in global markets. On the BSE, ONGC shares climbed as much as 4.35 to hit a fresh 52-week high of ₹298.15.

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Global crude oil benchmark Brent Crude futures rose as much as 3.25% to hit $111.50 per barrel. On the MCX, crude oil futures for delivery on May 18 advanced as much as 3.225 to hit ₹9,399 per barrel.

Crude oil rose for a second straight session on Tuesday as efforts to ‌end the US-Iran war appear stalled, with the crucial Strait of Hormuz waterway still mainly shut, keeping energy supplies from the key Middle East producing region out of the reach of global buyers, news agency Reuters reported.
Meanwhile, Reuters report suggested US President Donald Trump is unhappy with the latest Iranian proposal aimed at ending the war.

Iranian sources disclosed on Monday that Tehran's proposal avoided addressing its nuclear programme until hostilities cease and Gulf shipping disputes are resolved. Trump's displeasure with the Iranian ⁠offer leaves the conflict deadlocked, with Iran shutting shipping flows through the Strait of Hormuz, which typically carries supply equal to about 20% of global oil and gas consumption, and the U.S. keeping in place its blockade of Iranian ports, report added.

As of 1:23 pm, ONGC shares traded 4.3% higher at ₹298, outperforming the NIFTY50 index which was down 0.4%.

Disclaimer: This article is purely for informational purposes and should not be considered investment advice from Upstox. Please consult with a financial advisor before making any investment decisions.

About The Author

Abhishek Vasudev.jpg
Abhishek Vasudev is a business journalist with over 15 years of experience covering business and markets. He has worked for leading media organisations of the country.

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