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Tech Mahindra and Vedanta swing as markets tumble for fourth straight session

Tech Mahindra and Vedanta swing as markets tumble for fourth straight session

Indian markets slid for a fourth straight session as pressure weighed on realty and jewellery stocks. Despite the broader weakness, ONGC and Vedanta advanced after government royalty cuts improved sentiment. Tech Mahindra also stood out among the day’s biggest movers, underscoring how policy-driven cues can spark sharp stock swings even amid continuing selloffs.

Summarised by Beize from a story on The Economic Times on 12 May 2026
ONGC shares jump 6% as royalty cuts spark a CLSA upgrade for upstream oil firms

ONGC shares jump 6% as royalty cuts spark a CLSA upgrade for upstream oil firms

ONGC shares surged around 6% after CLSA said the government’s cut to crude oil and natural gas royalty rates is a major tailwind for upstream producers. The brokerage estimates the change could lift ONGC’s fair value by about 7–9% and Oil India’s by 9–11%, while Oil India shares gained roughly 7.5%. CLSA keeps a high-conviction outperform call.

Summarised by Beize from a story on The Economic Times on 12 May 2026

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ONGC mulls a new ₹200 crore fund to back energy and AI startups

ONGC mulls a new ₹200 crore fund to back energy and AI startups

Oil and Natural Gas Corporation is considering a new ₹200 crore alternative investment fund to incubate startups working at the intersection of energy and AI/ML. ONGC has invited applications to appoint two advisors for 12 months, tasked with due diligence, valuation negotiations, portfolio monitoring, and exit strategy. The move follows earlier ONGC startup funding and aligns with growing public-sector innovation in clean tech and industrial AI.

Summarised by Beize from a story on Inc42 on 11 May 2026
ONGC shares surge more than 4 percent as oil spikes reshape earnings hopes

ONGC shares surge more than 4 percent as oil spikes reshape earnings hopes

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.

Summarised by Beize from a story on The Economic Times on 28 Apr 2026
Can BP’s playbook revive ONGC’s Mumbai High wells as production keeps slipping

Can BP’s playbook revive ONGC’s Mumbai High wells as production keeps slipping

Mumbai High, once a flagship asset for India’s energy sector, is seeing production fall sharply. ONGC is now betting on a partnership with BP, drawing on BP’s track record of boosting output at Iraq’s Rumaila oilfield. The move aims to slow decline in ageing wells and restore steadier production, but execution risk remains high.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Extended monsoon delays could derail ONGC’s KG-98/2 bid and test BP partnership promise

Extended monsoon delays could derail ONGC’s KG-98/2 bid and test BP partnership promise

Bombay High is fading fast, and ONGC’s turnaround hinges on the KG-98/2 deepwater project. But an extended monsoon disrupted operations, raising the risk that the company’s multibillion-dollar plan—made even more urgent by falling profits and rising costs—could face further delays despite the BP partnership. The stakes are survival-level for ONGC’s next phase.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

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ONGC’s comeback slips again as KG delays and Mumbai High lag derail recovery plans

ONGC’s comeback slips again as KG delays and Mumbai High lag derail recovery plans

ONGC had promised the turnaround would finally end its long decline this year. But the company now says the recovery is slipping, citing delays in KG, slower progress at Mumbai High, and shifting of key production volumes to next year. The revival that was eagerly awaited appears to be stalled once more, raising fresh questions about timelines.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
ONGC scraps jack up rig tender as bids jump 60 percent and cartel fears surface

ONGC scraps jack up rig tender as bids jump 60 percent and cartel fears surface

State-run ONGC cancelled a jack-up rig tender after spotting unusual bid patterns and steep price hikes it suspects are collusive. The company says day rates rose almost 60% in nine months, far above market expectations. ONGC wants fair competition and to protect public money by tightening procurement integrity and preventing cartelisation.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
After two decades of wait KG 98 2 finally ignites ONGC revival path

After two decades of wait KG 98 2 finally ignites ONGC revival path

KG-98/2, once celebrated after a 2002 Reliance Industries gas discovery, has spent years falling short of expectations and getting tangled in controversies. Now ONGC is pushing to revive the field’s promise, aiming to regain momentum after long delays. The long-awaited ignition marks a potential turning point in India’s domestic energy narrative.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
ONGC cancels jack up rig tenders, operators may pull out and choke offshore output

ONGC cancels jack up rig tenders, operators may pull out and choke offshore output

ONGC has cancelled multiple tenders for jack-up rigs, triggering alarm across India’s offshore drilling industry. Rig operators are reportedly considering withdrawing assets from the country, which could slow or disrupt domestic oil production and jeopardize future exploration plans. The move highlights how procurement decisions are now directly affecting capacity in the offshore sector.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

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Uttarakhand HC overturns 31 year ban stopping ONGC contract hiring in landmark ruling

Uttarakhand HC overturns 31 year ban stopping ONGC contract hiring in landmark ruling

The Uttarakhand High Court has quashed a 31-year-old government order that had halted the hiring of contract workers at ONGC. The court ruled the original notification was issued without proper consultation and said it lacked a strong factual basis. The decision directly reshapes ONGC’s contracting and hiring practices after ONGC itself approached the court.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
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