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Crude oil surge lifts PSU energy majors to historic peaks
Rising crude prices pushed ONGC and Oil India shares to record highs, as investors bet on stronger earnings, cash flows, and outlook for upstream producers.
Shares of ONGC and Oil India surged to fresh record highs as global crude oil prices climbed sharply. Rising geopolitical tensions and supply worries lifted benchmark prices, improving earnings visibility for upstream producers. Investors welcomed stronger cash flows and dividend potential. Analysts cautioned that volatility and government policy, including windfall taxes, remain key variables influencing near term performance for state owned energy majors domestically globally.