{"id":343586,"date":"2020-03-26T12:30:09","date_gmt":"2020-03-26T07:00:09","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=343586"},"modified":"2020-03-26T12:30:09","modified_gmt":"2020-03-26T07:00:09","slug":"moodys-ongc-downgrade-reinforces-concerns-on-the-stocks-weak-outlook","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/moodys-ongc-downgrade-reinforces-concerns-on-the-stocks-weak-outlook\/","title":{"rendered":"Moody\u2019s ONGC downgrade reinforces concerns on the stock\u2019s weak outlook"},"content":{"rendered":"<p>Shares of Oil and Natural Gas Corp. Ltd (ONGC) fell around 1.5% on Wednesday to touch a multi-year low, while the Nifty 50 index gained 6.6%.<\/p>\n<p>\u201cONGC\u2019s one-year forward EV\/ Ebitda is currently two standard deviations below its 12-year average. Such low valuations were last seen during the global financial crisis in 2008,&#8221; said Amit Shah, head of India equity research at BNP Paribas India. Standard deviation measures the variations from average in a data set. EV is enterprise value. Ebitda is earnings before interest, tax, depreciation and amortization.<\/p>\n<p>On Tuesday, Moody\u2019s Investors Service downgraded ONGC\u2019s local and foreign currency issuer ratings from Baa1 to Baa2. The agency said the downgrade indicates that the company\u2019s credit metrics will weaken beyond the tolerance level for its ratings if oil prices remain low.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Shares of Oil and Natural Gas Corp. Ltd (ONGC) fell around 1.5% on Wednesday to touch a multi-year low, while the Nifty 50 index gained 6.6%. \u201cONGC\u2019s one-year forward EV\/ Ebitda is currently two standard deviations below its 12-year average. Such low valuations were last seen during the global financial crisis in 2008,&#8221; said Amit Shah, head of India equity research at BNP Paribas India. Standard deviation measures the variations from average in a data set. EV is enterprise value. Ebitda is earnings before interest, tax, depreciation and amortization. On Tuesday, Moody\u2019s Investors Service downgraded ONGC\u2019s local and foreign currency [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[139,130,187],"tags":[],"class_list":["post-343586","post","type-post","status-publish","format-standard","hentry","category-live-mint","category-newspapers","category-oil-gas-live-mint"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/343586","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=343586"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/343586\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=343586"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=343586"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=343586"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}