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ONGC moves up on looking for global partners to revitalize struggling Deen Dayal gas field

24 Jun 2024 Evaluate

Oil & Natural Gas Corporation is currently trading at Rs. 270.25, up by 0.60 points or 0.22% from its previous closing of Rs. 269.65 on the BSE.

The scrip opened at Rs. 269.95 and has touched a high and low of Rs. 271.25 and Rs. 266.45 respectively. So far 278912 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 292.95 on 03-May-2024 and a 52 week low of Rs. 155.40 on 23-Jun-2023.

Last one week high and low of the scrip stood at Rs. 279.75 and Rs. 266.45 respectively. The current market cap of the company is Rs. 339541.74 crore.

The promoters holding in the company stood at 58.89%, while Institutions and Non-Institutions held 38.06% and 3.05% respectively.

Oil and Natural Gas Corporation (ONGC) is looking for global oil and gas companies to revitalize the struggling Deen Dayal gas field in the KG basin of the Bay of Bengal after investing $1.2 billion over seven years with limited success. The company sought expressions of interest from firms with the necessary technical skills and financial power to join as partners and help form a feasible development strategy for the field.

ONGC acquired Gujarat State Petroleum Corporation's (GSPC) 80 percent stake in the block in January 2017, but the field has seen minimal gas output since then, faced with severe technical challenges that have thwarted productivity.

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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