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ONGC moves up on getting environment clearance for six development wells in Assam

Oil & Natural Gas Corporation is currently trading at Rs. 170.45, up by 0.35 points or 0.21% from its previous closing of Rs. 170.10 on the BSE.

The scrip opened at Rs. 169.05 and has touched a high and low of Rs. 170.45 and Rs. 168.05 respectively. So far 69741 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 5 has touched a 52 week high of Rs. 191.85 on 15-May-2018 and a 52 week low of Rs. 127.90 on 14-Feb-2019.

Last one week high and low of the scrip stood at Rs. 171.75 and Rs. 166.20 respectively. The current market cap of the company is Rs. 213424.44 crore.

The promoters holding in the company stood at 64.25%, while Institutions and Non-Institutions held 22.20% and 13.55% respectively.

The Union Environment Ministry has given the environment clearance to Oil and Natural Gas Corporation (ONGC) for six development wells in five mining lease blocks in Jorhat and Golghat districts, Assam.

The company had sought permission for drilling 12 development wells but it received clearance for six wells at present.

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.

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