Venezuela crisis fueling Indian oil stocks! RIL hits 52-week high; ONGC up 1% — Here's why
Indian energy stocks surged on Monday, driven by geopolitical shifts in Venezuela. Reliance Industries hit a 52-week high, while ONGC, HPCL, IOC, and Oil India also saw gains. Speculation is rife that a US-led restructuring could unlock significant unpaid dividends for ONGC from its Venezuelan investments, potentially boosting its financials.
Indian energy stocks surged on Monday, driven by geopolitical shifts in Venezuela. Reliance Industries hit a 52-week high, while ONGC, HPCL, IOC, and Oil India also saw gains. Speculation is rife that a US-led restructuring could unlock significant unpaid dividends for ONGC from its Venezuelan investments, potentially boosting its financials.
