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Bombay HC upholds arbitral award against ONGC

pre-market1 source ↓written by the desknot a recommendation

The Bombay High Court upheld an arbitral award against ONGC, affirming that courts cannot re-evaluate evidence under Sections 34 and 37 of the Arbitration Act. The ruling confirmed that ONGC's contract termination was wrongful, emphasizing that arbitral awards can only be set aside for patent illegality or absence of reasoning. This decision may impact ONGC's operational strategies and investor sentiment.

Not investment advice. For informational purposes only.

OI Charts is not a SEBI-registered investment adviser or research analyst. This bulletin was written by the OI Charts desk from the public sources listed here. It is commentary on market conditions, not a basis for any investment decision and not a recommendation to buy or sell any security. Prices as of 6 May 2026, 07:17 IST.

Sourcesnews.google.com

Read inENहिंతెमराதગુ

The market after the news

ONGC closed −3.2% on the day of the news, from ₹289.95 to ₹280.80; Nifty +1.2% over the same session; futures OI +1.6%.

Bulletin at 07:17 IST on 6 May 2026. Every change is measured from ₹289.95, the last close before it, on 5 May. Nifty 50 is measured over the same sessions.

  • ONGC close ₹
  • Nifty 50, rebased to the close before the news
  • close before the news
  • above it
  • below it
  • futures OI, lots
ONGC closes around the bulletin against the close before the news, with Nifty 50 rebased to it265.25289.95314.65axis spans 19%before the news · 5 May289.95Nifty 50ONGCbulletinD0+1+3+528 Apr11 May20 MayFutures open interest, lotspeak 52,000Reference close ₹289.95. 16 sessions from 28 Apr to 20 May; the price axis spans 19 percent.
price axis fixed at 4 × the 14-session true range around the close before the news · values printed at each marked session
Closes after the news against the close before it, with Nifty 50 over the same span
SessionClose ₹Change %Nifty %
Before5 May₹289.95basebase
On the day6 May₹280.80▼ −3.2%▲ +1.2%−4.4 pp difference
+1 session7 May₹283.90▼ −2.1%▲ +1.2%−3.3 pp difference
+3 sessions11 May₹281.00▼ −3.1%▼ −0.9%−2.2 pp difference
+5 sessions13 May₹297.15▲ +2.5%▼ −2.6%+5.1 pp difference
Gap at the open, % · ₹
0.0%0.00 on 6 May
Day's range, % · ₹
3.5%≈ 10 high to low
Volume on the day
1.22×the 20-session average
Futures OI on the day
▲ +1.6%+710 lots · short build-up · price −3.2%
Futures OI open, lots
46,0006 May · 26 May expiry
Futures premium, ₹
+1.85+0.7% to spot
Puts per call, by OI
0.33from 0.37 the session before
Max pain
290from 293 the session before

Source NSE UDiFF bhavcopy · ONGC on the desk →

Thread · ONGCAll ONGC bulletins →

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