Oil India, ONGC gain up to 4% on improved earnings outlook

Shares of upstream oil companies, Oil & Natural Gas Corporation (ONGC) and Oil India gained up to 4 per cent on the BSE in Wednesday’s intra-day trade on improved earnings outlook. Sustained higher crude oil prices and gas realisations can result in better profitability for upstream companies, say analysts.

In past one month, ONGC and Oil India have outperformed the market, by surging  7 per cent and 10 per cent, respectively. In comparison, the S&P BSE Sensex was down 0.56 per cent in during the same period.

At 02:20 PM; Oil India was up 4 per cent at