ONGC shares tumble over 1%, market cap at ₹2.96 lakh crore

Shares of Oil & Natural Gas Corporation (ONGC) slipped 1.1% to an intra-day low of ₹234.15 apiece on the National Stock Exchange (NSE) on Tuesday, August 26, tracking losses in the Indian benchmark indices.

As of 1:58 pm, the SENSEX was down 539.40 points at 81,0,96.51, and the NIFTY50 index dropped 160.50 points to 24,807.

The market was weighed down by negative sentiment after the United States announced an additional 25% tariff on Indian merchandise, effective August 27.

ONGC announces commencement of natural gas sales from Chinnewala Tibba block

Late on Monday evening, the company announced the commencement of natural gas sales from the Discovered Small Field (DSF-II) Block in Rajasthan. ONGC began the sale of one lakh standard cubic meters of gas per day (LSCMD) on August 25.

Located in Western Rajasthan, close to the India-Pakistan international border, the commencement of natural gas sale from the Chinnewala Tibba block marked its successful monetisation, ONGC said in a regulatory filing.

Covering an area of 73 square km, the block holds promising gas reserves, and the commencement of sales contributes to the region’s growing energy requirements.

“This significant milestone reinforces ONGC’s commitment to enhancing domestic energy production and strengthening India’s energy security under the guidance of the Ministry of Petroleum & Natural Gas (MoP&NG),” the statement said.

ONGC’s gas evacuation to Rajasthan Rajya Vidyut Utpadan Nigam Limited (RRVUNL), Ramgarh, began on August 25, through its Gamnewala Gas Collection Station (GCS).

This was enabled through a collaboration between the Directorate General of Hydrocarbons (DGH), GAIL, Oil India Limited (OIL), and RRVUNL, ensuring smooth integration of gas supplies into the regional power grid, the filing stated.

ONGC stock performance

Shares of ONGC were trading 0.76% lower at ₹234.96 apiece, at around 1:42 pm.

The stock lost 0.27% over the past week and 2.51% since the beginning of August. The scrip slipped 0.88% in the first quarter of FY26 and 1.77% on a year-to-date basis.

While the share reached a year’s high of ₹205 on April 7, 2025, it hit a 52-week low of ₹334.40 apiece, almost a year ago on August 30, 2024.

ONGC has a total market capitalisation of ₹2.96 lakh crore, as of August 26, 2025, according to data on the NSE.