RESEARCH REPORT
Title: Relationship between NIFTY50 and ONGC (Oil and Natural Gas Corporation Limited)
Author: Omkar Sudesh Kadam
INTRODUCTION: Oil and Natural Gas Corporation Limited (ONGC) is India’s largest oil and gas exploration and production company. Established in 1956, ONGC plays a pivotal role in the country’s energy sector, contributing significantly to oil and gas production. As a state-owned enterprise, ONGC is involved in the exploration, development, and production of crude oil and natural gas, both onshore and offshore. The company has a global presence with exploration activities in various countries. ONGC is committed to sustainable and responsible energy development, contributing to India’s energy security and economic growth.
OBJECTIVE: Find out Beta and Its significance.
VIEWS AND REVIEWS: Shri Hardeep S Puri: Union Minister of Petroleum and Natural Gas and Minister for Housing and Urban Development Shri Hardeep Singh Puri rededicated Oil and Natural Gas Corporation’s (ONGC) iconic drilling rig Sagar Samrat, as a Mobile Offshore Production Unit (MOPU) today (January 28, 2023) at a ceremony held on Sagar Samrat which is located 140-145 kilometres west of Mumbai. The Minister later visited ONGC Kendriya Vidyalaya Grounds, Panvel Phase 1 to meet the Energy Soldiers of ONGC and their families.
Chairman & CEO Arun Kumar Singh: India’s ONGC Ltd is actively pursuing a multi-pronged growth strategy that will involve vast expansion of exploration acreage at home, acquiring producing assets overseas, as well as building new crude-to-chemicals projects, its chairman and CEO Arun Kumar Singh said.
“ONGC’s aim is to play a key role in helping India reduce its dependence on oil and gas imports. The aspiration of the government is a 10% reduction in oil imports,” Singh said. “We are hopeful that ONGC’s output strategy can take the country one step closer to that goal.”
DATA COLLECTION: This report explores ONGC (Oil & Natural Gas Corporation) weekly performance on the Nifty 50 using Innova table to visualize key statistics, including R Square, F, p value. Analysing these elements reveals insights into the stock’s price distribution, stability, volatility, and potential trends compared to the broader market. The findings will inform investment decisions, risk assessments, and potential future outlooks.
DATA ANALYSIS: Regression equation= 15766.03+ 0.14(close of Nifty 50) where N = 50, R Square = 0.22, f = 14.16, p value = 0.0004, these all value get from Anova table.
Conclusion: If beta value is more than 1 than it is good for short term investment, if beta= 0.14 then the value is less than 1 than it is good for long term investment.
REFERENCE: APA System