Oil & Natural Gas Corporation Limited has informed the Exchange about Intimation of letter received from M/s MSKA & Associates, Chartered Accountants

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ONGC · price

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

+0.5%Reaction day

₹238.41

prior close

₹238.92

announcement price

After-mkt

timing

Nifty 100market · index membership as recorded later (tracked since Jun 2026)-0.7%+1.2% vs market

Oil peers, median of 14sector · industry level+0.3%+0.3% vs sector

On the reaction day the stock moved 1.2 pts more than Nifty 100 and 0.3 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

+0.1

10m

+0.5

15m

+0.7

30m

+0.9

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+0.5-0.7+1.2+0.3+0.3

Next day

-0.1-1.7+1.6-1.2+1.1

+0.6-1.6+2.2-1.2+1.8

+0.5-1.7+2.2-1.4+1.9

+2.0-0.9+2.9-1.2+3.2

+2.3-0.6+2.9-0.6+2.8

+2.9+0.1+2.8-1.9+4.8

15d

+3.8+2.3+1.5-4.1+7.9

+6.4+3.2+3.2-3.4+9.8

+2.7+2.6+0.1-10.1+12.8

-1.6+3.3-4.9-10.8+9.2

UpDownMarket · Nifty 100Sector · Oil peers, median of 14Pending

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

AI summary

ONGC has informed the stock exchanges that M/s MSKA & Associates, Chartered Accountants, has declined the Joint Statutory Auditor appointment for FY 2025-26. The firm was one of five auditors appointed by the Comptroller & Auditor General of India (C&AG) for the year. MSKA's internal review found that a network entity of the firm is currently providing accounting and finance services to an ONGC subsidiary and business valuation services to an ONGC associate company. These engagements fall under prohibited services under Section 144 of the Companies Act, 2013, which would compromise the firm's independence as statutory auditor. The firm has formally declined the engagement, and ONGC has forwarded the letter to the exchanges for record.

Likely market impact

This is a pre-engagement decline, so there is no disruption to any ongoing audit. ONGC will likely need C&AG to appoint a replacement firm for the Kolkata unit, which may cause a minor procedural delay in finalizing the audit panel for FY 2025-26. Unlikely to have a material impact on shareholders or the stock.