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ONGC, Oil India surge 5%; gain up to 41% in 6 months on high oil prices

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ONGC, Oil India surge 5%; gain up to 41% in 6 months on high oil prices

Shares of state-owned oil exploration & production companies – Oil Natural Gas Corporation (ONGC) and Oil India – rallied up to 10 per cent on the BSE in Wednesday’s intra-day trade as oil prices surged to their highest levels since 2014.

Brent crude oil prices extended gains as the conflict in Ukraine escalated, fanning fears of lower supply from the top oil exporter. Western countries have also slapped fresh sanctions on Russia in response to the invasion of Ukraine, and Russian President Vladimir Putin responded by putting his country’s nuclear deterrent on a high alert.

Brent futures rose nearly 5 per cent on Wednesday to top $110 a barrel-mark, their highest since 2014, as a global agreement to release crude reserves also failed to calm fears about supply disruptions from Russia’s invasion of Ukraine, news agency Reuters reported.

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Among individual stocks, Oil India surged 9.8 per cent to Rs 245, while ONGC gained 4.6 per cent at Rs 168.05 on the BSE in intra-day. In comparison, the S&P BSE Sensex was down 1 per cent at 55,649 at 09:30 am. In the past six months, ONGC and Oil India have outperformed the market, having rallied 41 per cent and 30 per cent, respectively, as against a 3.8 per cent decline in the benchmark index.

Earnings outlook for upstream PSUs has improved considerably given the recent rise in crude oil prices at above $90/bbl mark and expectation of a further steep hike in domestic gas price over H1-H2FY23 on current gas price of $2.9/mmBtu. High oil & gas prices would boost overall profitability of ONGC and OIL. However, oil and gas production are expected to recover gradually with majority of the growth being back-ended (i.e. by FY2024E-FY2025E).

“The recent sharp surge in crude oil prices and expectation of further steep hike in domestic gas prices from April 2022 would drive a 40 per cent CAGR in Oil India’s standalone profit after tax (PAT) over FY2021-FY2024E and improve RoE to 12.5 per cent (versus only 5.4 per cent in FY2021). Moreover, the recent stake increase in Numaligarh Refinery (NRL) could create long-term value for Oil India,” brokerage firm Sharekhan said. It maintains a ‘Buy’ rating on Oil India with a revised SoTP-based price target of Rs 290.

Complete News Source : Business Standard

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Laid stars Stephanie Hsu and Zosia Mamet reveal the worst gifts their romantic partners gave them | Exclusive

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Laid stars Stephanie Hsu and Zosia Mamet reveal the worst gifts their romantic partners gave them | Exclusive

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Stephanie Hsu and Zosia Mamet talk about their new series Laid, and some of the horrors of dating as millennials.
Imagine a scenario where anyone and everyone you have ever been intimate with begins to die one by one. Is it a curse? If yes, then who is cursed? These are questions that Stephanie Hsu‘s Ruby battles with in the new zany comedy, Laid. Ahead of the show’s release, Stephanie and co-star Zosia Mamet spoke exclusively with HT about their roles, the show’s unique premise, and the horrors of dating as millennials. (Also read: Dune: Prophecy star Emily Watson on working with Tabu: ‘She is a true treasure’)

Stephanie Hsu on her character’s flawed morality

Laid, created by Nahnatchka Khan and Sally Bradford McKenna, is the story of Ruby (Stephanie Hsu), who discovers that all her sexual partners are dying one by one, and she must warn them. Helping her in this unique quest is her best friend AJ (Zosia). The fun thing about Laid is that the protagonists are not the usual likeable characters. “She is totally an anti-hero of our story. I really love that,” says Stephanie, referring to Ruby’s moral greyness. “I am not a perfect person and I love playing flawed characters. But it was difficult. The creators told me that she is a total narcissist. But narcissists don’t think they are one, so I had to figure out a way to love her. For me, playing Ruby was about getting into her psychology and finding the innocent part of her – which is that she just wants love,” the actor adds.

While sitcoms usually add the best friend as the voice of reason trope, Laid diverges from that, with AJ even zanier and more morally ambiguous than Ruby. Talking about playing such a colourful character, Zosia Mamet says, “When you play not-so-likable or zany characters, people don’t believe they are that way. I don’t think AJ wakes up every morning and thinks, ‘I am absolutely crazy’. It’s about trusting the writing and finding an organic way into these characters to make them seem grounded, real, and relatable.”

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Stephanie, Zosia reveal the worst gifts they received from partners

In Laid, Ruby gives the gift of death to the men she is with, even if that is inadvertent. Ask the women about the worst ‘gift’ a partner has ever given them, and the discussions veer into the unusual horrors of modern-day dating. “I got a vintage wooden duck decoy from someone. It was broken, and I thought, ‘What does this say about our relationship?’. They didn’t know me well enough to know if I’d want this but also that they gave me something old and ailing,” Zosia says with a laugh.

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