US Venezuela Move Boosts RIL to Record High, ONGC & Oil Stocks Soar 2%

• RIL hit a fresh 52-week high, while ONGC, Oil India, and Indian Oil Corporation stocks rose up to 2% following a US military operation in Venezuela.
• The US operation, which reportedly captured President Nicolás Maduro, revived investor focus on Indian companies with Venezuelan asset exposure.
• ONGC Videsh holds stakes in Venezuelan oil projects (San Cristobal, Carabobo), with potential to recover over $500 million in unpaid dividends from San Cristobal.
• Jefferies highlights ONGC's strong cash generation and potential re-rating if Venezuela-linked cash flows materialize, along with upside from the Carabobo field.
• Oil India and Indian Oil Corporation also have Venezuelan interests, while RIL, despite past crude purchases, may halt imports due to US tariffs.

Why It Matters: US action in Venezuela sparks rally in Indian oil stocks, with ONGC poised for significant cash recovery.