ONGC shines on plan of acquiring 51.11% stake in HPCL for Rs 36,915 crore

Oil & Natural Gas Corporation Ltd. | Oil Exploration | Oil & Gas | BSE: 500312 | NSE: ONGC

22 Jan 2018 Evaluate

Oil & Natural Gas Corporation (ONGC) is currently trading at Rs. 200.65, up by 7.05 points or 3.64% from its previous closing of Rs. 193.60 on the BSE.

The scrip opened at Rs. 199.00 and has touched a high and low of Rs. 206.00 and Rs. 198.00 respectively. So far 1139321 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. 206.00 and Rs. 191.65 respectively. The current market cap of the company is Rs. 257819.69 crore.

The promoters holding in the company stood at 67.72%, while institutions and non-institutions held 18.45% and 13.84% respectively.

Oil and Natural Gas Corporation (ONGC) has received an approval for acquisition of entire 51.11% shareholding (778,845,375 equity shares) of the President of India in Hindustan Petroleum Corporation (HPCL) at a cash purchase consideration of Rs 473.97 per share with a total acquisition cost of Rs 36,915 crore. The board of directors at its meeting held on January 19, 2018 approved the same.

Further, ONGC has entered into a share purchase agreement with the President for acquiring the 778,845,375 equity shares of HPCL (representing 51.11% of HPCL) on January 20, 2018. The parties expect to complete the transaction before end of January 2018.

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

284.35 3.65 (1.30%)

07-May-2026 11:41 View Price Chart

Peers

Company Name	CMP
ONGC	284.35
Oil India	456.10
Jindal Drilling&Inds	534.15
Deep Industries	466.65
Asian Energy Service	295.40
View more..

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