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ONGC gains on plan of selling stake in IOC, GAIL to fund acquisition of HPCL

28 Sep 2017 Evaluate

Oil & Natural Gas Corporation (ONGC) is currently trading at Rs. 171.00, up by 0.80 points or 0.47% from its previous closing of Rs. 170.20 on the BSE.

The scrip opened at Rs. 169.50 and has touched a high and low of Rs. 171.10 and Rs. 166.70 respectively. So far 338468 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. 155.30 on 27-Jun-2017.

Last one week high and low of the scrip stood at Rs. 173.80 and Rs. 161.10 respectively. The current market cap of the company is Rs. 219255.82 crore.

The promoters holding in the company stood at 68.07%, while institutions and non-institutions held 18.08% and 13.85% respectively.

Oil and Natural Gas Corporation may sell its holding in Indian Oil Corporation (IOC) and GAIL to fund Rs 33,000 crore acquisition of HPCL. The company has about 13.77% stake in IOC, which is worth around Rs 26,450 crore and 4.87% stake in GAIL, which is worth Rs 1,640 crore.

ONGC is debt free and currently has Rs 10,000 crore of cash. It has received the shareholders’ approval to raise Rs 25,000 crore through borrowing.

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

280.70 -9.10 (-3.14%)
06-May-2026 16:59 View Price Chart
Peers
Company Name CMP
ONGC 280.70
Oil India 449.80
Jindal Drilling&Inds 525.80
Deep Industries 456.75
Asian Energy Service 297.55
View more..

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