ONGC Share Price Drops 2.76%: Temporary Dip or Bigger Signal?

Posted by : Ekta Dhawan | Wed Feb 18 2026

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The share price of ONGC Limited fell by 2.76% during the market’s initial trading on Wednesday, the 18th of February, indicating poor market sentiment. ONGC (Oil and Natural Gas Corporation) is the largest oil and gas exploration and production company in India, operating in the upstream segment through exploration, drilling, and production of crude oil and natural gas. ONGC is an important stock for investors interested in India’s energy and natural resources sector.

Table of Contents

Why Did ONGC Share Price Fall Today?

Fall in Global Crude Oil Prices

Crude oil prices fell as diplomatic talks between the US and Iran made progress, thereby easing concerns of supply chain disruptions. Lower oil prices directly affect the revenue and profit potential of upstream oil companies such as ONGC, triggering a sell-off.

Sector-Wide Pressure on Upstream Oil Stocks

Other upstream oil stocks, such as Oil India and Seame,c also fell, indicating that weakness in the overall oil and gas exploration sector impacted ONGC’s stock performance for the day.

Profit-Taking After Recent Gains

The stock fell after recent short-term reversals, prompting some investors to take profits and triggering strong selling pressure during the early session.

Broader Market Volatility

Volatility in the overall domestic stock market and cautious sentiment among investors dampened risk appetite, triggering selling pressure in cyclical sectors such as energy and natural resources.

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Business Fundamentals Remain Intact

India’s largest oil and gas exploration and production company with a dominant domestic presence
Diversified upstream portfolio with crude oil and natural gas production across multiple basins
Steady revenue from long-term contracts and government-backed projects
Strong balance sheet with healthy cash flows and low debt

Also Read: Nifty Top Gainers & Losers Today

ONGC Share Price Target

ONGC is trading at an average price of ₹284.17. The consensus estimate represents a upside of 7.40% from the last price of ₹264.69. According to Wall Street, the 5-day price target for ONGC is ₹350.80 with a low forecast of ₹245.80 and a high forecast of ₹8,550.

ONGC Share Price Momentum: Analyst Ratings

The average 12-month ONGC share price target is around ₹557.00with a consensus rating of Hold (a mix of Buy, Hold, and Reduce recommendations).
The analysts’ share price target range for ONGC is between ₹264.70, indicating moderate upside potential.
Some brokerage firms are concerned about margin pressures, seasonal demand risks, and rising distribution costs, which is why several analysts are taking a cautious approach.

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What Should Investors Watch?

To monitor quarterly results, revenue growth, and margins, and to evaluate business performance.
Tracking raw materials and logistics costs helps manage costs and increase profitability.
Assess ONGC’s competition & market position to maintain leadership and cyclical demand in the global marketplace

Investor Takeaway

Despite today’s 2.76% decline in the ONGC share price, the drop seems more a result of market factors than of any negative news about the company. Investors can continue to monitor for stabilisation around key support levels before taking new positions.