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ONGC gains on signing crude oil sales agreement with Indian Oil Corporation

ONGC is currently trading at Rs. 126.85, up by 0.90 points or 0.71% from its previous closing of Rs. 125.95 on the BSE.

The scrip opened at Rs. 126.50 and has touched a high and low of Rs. 127.00 and Rs. 125.50 respectively. So far 76056 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. 132.70 and Rs. 123.95 respectively. The current market cap of the company is Rs. 159203.43 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 Gas Corporation (ONGC) and Indian Oil Corporation (IOCL) have signed Crude Oil Sales Agreement (COSA) for North East (NE) on October 01, 2019 at New Delhi. The COSA is with effect from April 01, 2018 and for a term of 5 years with provision for extension of tenure by 3 years.

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.