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ONGC jumps on making back-to-back gas discoveries in Mahanadi basin deepwater block

16 Jan 2024 Evaluate

Oil & Natural Gas Corporation is currently trading at Rs. 238.20, up by 4.65 points or 1.99% from its previous closing of Rs. 233.55 on the BSE.

The scrip opened at Rs. 234.95 and has touched a high and low of Rs. 239.00 and Rs. 232.75 respectively. So far 1005830 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 239.00 on 16-Jan-2024 and a 52 week low of Rs. 140.10 on 03-Feb-2023.

Last one week high and low of the scrip stood at Rs. 239.00 and Rs. 209.65 respectively. The current market cap of the company is Rs. 297649.41 crore.

The promoters holding in the company stood at 58.89%, while Institutions and Non-Institutions held 38.27% and 2.84% respectively.

Oil and Natural Gas Corporation (ONGC) has made two significant back-to-back natural gas discoveries in a Mahanadi basin deepwater block in the Bay of Bengal as its calculated game plan of venturing into high-risk deep water exploration starts yielding results. 

The firm made the discoveries in the block MN-DWHP-2018/1, which it had won in the third round of auction under the open acreage licensing policy in 2019.  Significantly, the discoveries have been made in an area, which previously was classified as a 'no-go' area because of national security interests.

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

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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