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ONGC shares surge more than 4 percent as oil spikes reshape earnings hopes
Economy
Published on 28 April 2026
US Iran tensions are squeezing oil supply at Hormuz
ONGC shares jumped over 4% for a second straight session as crude oil prices climbed, lifting investor sentiment. The rally is tied to escalating US Iran tensions and disruptions around the Strait of Hormuz, which are tightening supply expectations. With higher oil prices improving upstream realisations, traders are betting on a stronger earnings outlook.
- ONGC shares rose over 4% for a second session
- Crude oil gains are driving sentiment and support for realisations
- US Iran tensions and Strait of Hormuz disruption tighten supply expectations
- Investors are pricing in a better earnings outlook for upstream firms
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times