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ONGC gains as its overseas arm win rights to bid for Iran oil, gas projects

04 Jan 2017 Evaluate

Oil and Natural Gas Corporation (ONGC) is currently trading at Rs. 193.25, up by 0.45 points or 0.23% from its previous closing of Rs. 192.80 on the BSE.

The scrip opened at Rs. 193.70 and has touched a high and low of Rs. 193.90 and Rs. 192.70 respectively. So far 14,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 210.00 on 13-Dec-2016 and a 52 week low of Rs. 125.40 on 12-Feb-2016.

Last one week high and low of the scrip stood at Rs. 193.90 and Rs. 189.85 respectively. The current market cap of the company is Rs. 2,48,323.00 crore.

The promoters holding in the company stood at 68.93%, while Institutions and Non-Institutions held 17.31% and 13.75% respectively.

ONGC’s overseas arm - ONGC Videsh (OVL), has won rights to bid for oil and gas development projects in Iran. OVL is among the 29 international oil companies from more than a dozen countries that Iran has pre-qualified to bid in the upcoming tender for oil and gas projects, according to the list put out by National Iranian Oil Co (NIOC). Others on the list include Royal Dutch Shell Plc, China National Petroleum Corp (CNPC), Total SA of France, Russia’s Gazprom and Eni of Italy.

OVL is already present in Iran. In 2008, it had discovered the Farzad-B gas field in the Farsi block in Persian Gulf. The discovery has an in-place gas reserve of 21.7 trillion cubic feet, of which 12.5 tcf are recoverable.

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 with current market capitalization of about $31 billion.


ONGC Share Price

283.95 1.20 (0.42%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
ONGC 283.95
Oil India 470.10
Jindal Drilling&Inds 540.15
Deep Industries 476.90
Asian Energy Service 306.05
View more..

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