ONGC's market capitalisation has fallen drastically.

The Oil and Natural Gas Corp. Ltd (ONGC)'s market capitalization fell below the ₹1 trillion mark due to COVID-19 in March 2020.

The Oil and Natural Gas Corp. Ltd (ONGC)'s market capitalization fell below the ₹1 trillion mark due to COVID-19 in March 2020.Oil and Natural Gas Corporation (ONGC)'s historical price by Investigating India shows a sharp decline in the state-owned company's market price (market-cap), dropping below the ₹ 1 lakh crore mark for the first time since August 2004. The shares also plunged over the 15-year low of Rs 78.05. Since March 2020, its shares decreased due to coronavirus pandemic, where markets, equities, and commodities closed globally. Crude oil prices also plunged due to the government's worldwide accelerated lockdowns to counter the pandemic.

According to CNBC, ONGC said, "the sudden and sharp decline in crude oil prices had led to a lot of volatility in the sector, hitting share prices of upstream oil and gas producer firms". ONGC also stated that the recoveries were apparent.