The ONGC share price grabbed attention in the stock market today, posting its strongest single-day jump in over a year. As trading picked up mid-week, ONGC shares moved sharply higher, driven by a mix of global energy cues and key corporate developments that the market quickly priced in.
The move stood out not just for its size, but for its timing—coming at a moment when investors are closely tracking energy supply chains and crude price direction.
Market Performance: ONGC Stock Sees Sharp Single-Day Rally
ONGC shares delivered a standout session on Wednesday, climbing more than 7% during intraday trade.
- Day’s high: Rs 266.05 on BSE
- Price at 11:29 AM: Rs 263.40
- Gain at that time: 6.19%
- Previous close: Rs 248.05
This marked ONGC’s biggest one-day gain in around 17 months, a rally last seen in August 2024 when the stock ended the session over 7.5% higher.
The momentum placed ONGC firmly among the top-moving large-cap stocks in the stock market today.
Main News: Why ONGC Share Price Jumped Today?
The rise in ONGC share price came as multiple developments aligned at the same time, creating a strong narrative around energy security and supply stability.
1. Crude Oil Prices Hit Four-Month High
Global crude prices firmed up, lending direct support to oil-linked stocks.
- Brent crude: Trading near $67 per barrel
- The rise was linked to extreme cold weather in the US
- Weather disruptions affected production, signaling tighter supply
Higher crude prices tend to lift sentiment around upstream energy companies, and the market reacted accordingly.
2. Major Shipbuilding Pact Strengthens Energy Supply Chain
ONGC’s joint venture companies, along with Japan’s Mitsui O.S.K. Lines (MOL), signed contracts with Samsung Heavy Industries of South Korea.
Key details from the agreement:
- Two Very Large Ethane Carriers (VLECs) to be built
- Cargo capacity: 1 lakh cubic meters per vessel
- Designed to transport ~600 KTPA of ethane
- Route: USA to India
- End use: OPaL, an ONGC subsidiary
The contracts were signed on January 27, 2026, during India Energy Week in Goa.
3. Long-Term Energy Corridor and Dedicated Ownership Structure
To manage the project, ONGC and MOL have set up two dedicated entities in GIFT City, Gujarat:
- Bharat Ethane One IFSC Pvt. Ltd.
- Bharat Ethane Two IFSC Pvt. Ltd.
These entities will own and operate the vessels, ensuring long-term control and operational focus.
Additional points:
- Vessels will be Indian-flag carriers
- Delivery timeline: FY 2028–29
- Long-term agreements signed to maintain a stable supply corridor
This development added a strategic layer to the ONGC narrative in the stock market today.
Company Details: ONGC and Reliance Resource-Sharing Pact
Another important trigger for ONGC share price movement was a fresh collaboration with Reliance Industries Limited.
- Agreement signed on January 27, 2026
- Focuses on resource sharing
- Targets deepwater offshore exploration and production
The pact specifically covers:
- Krishna Godavari (KG) Basin
- Andaman offshore regions
These areas are known for being complex and capital-intensive, and the agreement aims to enable coordinated operations in these challenging geographies.
Summary: What Drove ONGC Share Price in the Stock Market Today?
ONGC’s sharp rally wasn’t tied to a single headline. Instead, it was a combination of global and company-specific factors coming together at the same time.
In simple terms:
- Crude prices moved higher, supporting oil stocks
- Strategic shipping contracts strengthened ONGC’s energy logistics
- Joint ventures and new entities added operational clarity
- Resource-sharing with Reliance highlighted collaboration in key offshore regions
All of this played out in one trading session, pushing the ONGC share price to its strongest gain in over a year and making it one of the most watched stocks in the stock market today.
Source: Business Today
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