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ONGC rises as its arm makes new discoveries in Colombia, Brazil

ONGC rises as its arm makes new discoveries in Colombia, Brazil

Oil & Natural Gas Corporation is currently trading at Rs. 139.70, up by 0.95 points or 0.68% from its previous closing of Rs. 138.75 on the BSE.

The scrip opened at Rs. 140.20 and has touched a high and low of Rs. 140.50 and Rs. 139.40 respectively. So far 84437 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 5 has touched a 52 week high of Rs. 178.95 on 23-May-2019 and a 52 week low of Rs. 115.55 on 04-Sep-2019.

Last one week high and low of the scrip stood at Rs. 140.50 and Rs. 125.10 respectively. The current market cap of the company is Rs. 174551.37 crore.

The promoters holding in the company stood at 64.25%, while Institutions and Non-Institutions held 22.22% and 13.53% respectively.

Oil and Natural Gas Corporation’s (ONGC) wholly-owned subsidiary — ONGC Videsh has made new discoveries in Colombia and Brazil. ONGC Videsh has recorded discoveries of oil in its onshore exploration block CPO-5, Colombia in the Llanos basin and major gas in the deep offshore exploration block BM-SEAL4, Brazil in the Sergipe Alagoas Basin.

ONGC Videsh has a significant presence in oil & gas sector of Brazil and Colombia. It holds stakes in seven exploratory blocks.

ONGC is India’s largest government-run corporation and produces about 70% of India’s crude oil and natural gas. The corporation is the biggest public sector commercial organization in India.