ONGC shares rally nearly 3%, continue winning streak following CLSA upgrade

CLSA highlighted several key factors behind its bullish outlook for ONGC. The brokerage expects multiple volume and realization drivers for the company in 2025. A major contributor to the anticipated production increase is the ramp-up of ONGC's eastern offshore field to its peak production, which is expected to substantially boost the companys domestic oil and gas output.