Oil & Natural Gas Corporation Limited has informed the Exchange about Denial on Media Report(s) dated 08.05.2025 regarding "ONGC cancels Mumbai High Tender, uncertainty looms over bp partnership".

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ONGC · price

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Price reactionminutes from the announcement price · days from the prior close

+1.3%Reaction day

₹231.45

prior close

₹229.10

announcement price

After-mkt

timing

Nifty 100market · index membership as recorded later (tracked since Jun 2026)-1.0%+2.3% vs market

Oil peers, median of 13sector · industry level+0.3%+1.0% vs sector

On the reaction day the stock moved 2.3 pts more than Nifty 100 and 1.0 pts more than its Oil peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

+0.9

10m

+1.2

15m

+1.5

30m

+2.0

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+1.3-1.0+2.3+0.3+1.0

Next day

+5.4+2.9+2.6+3.9+1.5

+4.1+1.7+2.5+6.0-1.9

+6.3+2.1+4.2+6.8-0.5

+6.7+3.6+3.1+10.7-3.9

+6.8+3.7+3.1+11.3-4.5

+7.6+2.3+5.3+9.0-1.4

15d

+3.3+2.7+0.6+8.0-4.7

+5.1+4.5+0.6+8.9-3.8

+5.1+5.7-0.6+11.8-6.8

+1.1+2.0-0.9+9.0-7.9

UpDownMarket · Nifty 100Sector · Oil peers, median of 13Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

ONGC has formally denied a media report published on 08.05.2025 that claimed the company cancelled the Mumbai High tender and that its partnership with bp was in doubt. The company clarified that its contract with bp, under which bp acts as the Technical Services Provider (TSP) for the Mumbai High field, remains effective and fully operational. The filing was made to stock exchanges (NSE and BSE) to correct any misinterpretation caused by the news article. No change to the existing bp engagement has been reported.

Likely market impact

This puts to rest concerns that the bp partnership or Mumbai High field operations are at risk, which is reassuring for shareholders. The stock is unlikely to face any negative fallout from the original media report once investors read the clarification.