ONGC rises on investing Rs 83,000 crore in 25 projects

16 Aug 2019

ONGC is currently trading at Rs. 126.95, up by 0.15 points or 0.12% from its previous closing of Rs. 126.75 on the BSE.

The scrip opened at Rs. 126.40 and has touched a high and low of Rs. 128.45 and Rs. 126.40 respectively. So far 130610 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 185.00 on 24-Sep-2018 and a 52 week low of Rs. 125.70 on 13-Aug-2019.

Last one week high and low of the scrip stood at Rs. 133.55 and Rs. 125.70 respectively. The current market cap of the company is Rs. 160084.05 crore.

The promoters holding in the company stood at 64.25%, while Institutions and Non-Institutions held 22.22% and 13.53% respectively.

Oil and Natural Gas Corporation (ONGC) is investing around Rs 83,000 crore in 25 major projects to boost oil and gas production. 15 of these projects currently under execution will directly contribute to oil and gas production. The cumulative oil and gas gain from these projects is expected to be over 180 million tonne of oil and oil equivalent gas in their life cycle.

The firm produced 24.23 million tonne of crude oil in the 2018-19 fiscal year and 25.81 billion cubic metres of natural gas from its domestic fields. Another 10.1 million tonne of oil and 4.736 bcm of gas were produced from its overseas assets.

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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