ONGC moves higher on plans to set up gas processing plant in Maharashtra

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

24 Nov 2011 Evaluate

ONGC is currently trading at Rs. 247.40, up by 1.10 points or 0.45% from its previous closing of Rs. 246.30 on the BSE.

The scrip opened at Rs. 247.00 and has touched a high and low of Rs. 248.20 and Rs. 244.25 respectively. So far 144546 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 341.23 on 08-Dec-2010 and a 52 week low of Rs. 226.95 on 15-Jul-2011.

Last one week high and low of the scrip stood at Rs. 264.80 and Rs. 241.90 respectively. The current market cap of the company is Rs. 210721.72 crore.

The promoters holding in the company stood at 74.14% while Institutions and Non-Institutions held 12.16% and 13.70% respectively.

State-run explorer Oil and Natural Gas Corporation (ONGC) plans to set up a gas processing plant near Dahanu in Maharashtra. It plans to process gas produced from its marginal fields on the west coast at Dahanu unit. The company will set the plant at an estimated investment of $3 billion and is looking at a peak capacity of 8 million cubic meters per day.

The company is expected to tie up with global companies to boost its domestic deep-water hydrocarbons hunt. The company had won 19 oil and gas acreages, including the East Coast ultra-deepwater gas discovery of the company through domestic licensing rounds.

ONGC sells crude to government-owned refiners at a discount to compensate them for selling diesel, kerosene and cooking gas below international rates. The July-September quarterly net profit of the company surged by 60.36% at Rs 8,642 crore against Rs 5,389 crore for the corresponding period last year. Total income for the quarter under review increased by 24.4% to Rs.24,058.33 crore against Rs 19,336.46 crore in Q2, FY11.

ONGC Share Price

279.25 -4.70 (-1.66%)

08-May-2026 16:59 View Price Chart

Peers

Company Name	CMP
ONGC	279.25
Oil India	454.40
Jindal Drilling&Inds	535.85
Deep Industries	457.70
Asian Energy Service	297.85
View more..

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