Nifty Oil & Gas Index Stocks List – with Price & P/E ratio

My Analysis of the Nifty Oil & Gas Index

My major benchmark that I use to measure the performance of the Oil, Gas and Petroleum industry in India is the Nifty Oil & Gas Index. It is a concentrated index, with a maximum of 15 major tradable companies and gives a clear picture of this essential energy-specialized field.

The index is built using a Periodic Capped Free Float market capitalization method. The capping here is necessary because it checkweights of topmost companies and does not allow ludicrous giants such as Reliance Industries to take over the performance of the index. To have a complete picture which takes account of the dividend payouts, my analysis is done on the Total Returns Index.

Key Performance & Fundamental Metrics

The following are the critical indicators of the index that I find the most informative. The medium-term growth is good, with a 5-year CAGR. Markedly, the P/E ratio is 13.71, and the dividend yield is at 2.7%, which presupposes that the industry, on the whole, is a value-creator and provides income opportunities, which is appealing in the context of the current market scheme.

Also Read:

Nifty Realty Index Stocks List – Top Real Estate Shares

Index Performance Visualized

In order to have more insight into the dynamics of the index, I have developed a few visualisations. The historical chart indicates how the sector has performed in terms of time and even whether it is cyclical. Bar chart shows the comparison with other sectors, and the doughnut diagram shows clearly how the Reliance Industries has such a huge weight in the index despite the capping policies.

Constituents Breakdown (15 Stocks)

For a more detailed analysis, here is the complete list of the 15 companies that constitute the index, updated with their latest market data. The table is interactive—you can search for a specific company or sort any column to explore the data more deeply.

Also Read:

Nifty Consumer Durables Index Stocks List 2025

My Notes on the Index Methodology

The rules for this index are designed to capture the most significant players in the Oil, Gas, and Petroleum industry, with a clear focus on size and tradability.

• Eligibility Universe: Companies must be part of the Nifty 500 and belong to the Oil, Gas & Petroleum Industry.
• Selection: The final 15 companies are selected based on their free-float market capitalization.
• Weight Capping: A single stock's weight is capped at 33%, and the cumulative weight of the top 3 stocks is capped at 62% at the time of rebalancing.
• Rebalancing: The index is reconstituted on a semi-annual basis to ensure it remains representative of the sector.