ONGC gains on the buzz of planning to boost output by 30%

24 Apr 2017 Evaluate

Oil & Natural Gas Corporation (ONGC) is currently trading at Rs. 181.20, up by 1.30 points or 0.72% from its previous closing of Rs. 179.90 on the BSE.

The scrip opened at Rs. 181.00 and has touched a high and low of Rs. 182.20 and Rs. 180.65 respectively. So far 164778 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 212.00 on 31-Jan-2017 and a 52 week low of Rs. 133.40 on 16-May-2016.

Last one week high and low of the scrip stood at Rs. 185.25 and Rs. 178.95 respectively. The current market cap of the company is Rs. 232923.22 crore.

The promoters holding in the company stood at 68.07%, while institutions and non-institutions held 18.25% and 13.68% respectively.

State-owned ONGC is reportedly planning to increase gas production by nearly 30% over the next three-four years with an investment of around $11 billion. The company will put its blocks in the Krishna Godavari basin (KG-DWN-98/2) and Ratna and R-Series oilfields in Mumbai offshore into production by 2019. The coal bed methane (CBM) blocks in Jharkhand will begin production by 2020, while the Daman offshore fields, which have been pressed into production this month, will be ramped up next year.

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.

ONGC Share Price

267.85 6.00 (2.29%)
28-Mar-2024 16:01 View Price Chart
Peers
Company Name CMP
ONGC 267.85
Oil India 600.10
Jindal Drilling&Inds 613.25
Hind Oil Exploration 178.85
Deep Industries 308.45
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