Oil & Natural Gas Corporation Ltd.

Oil & Natural Gas Corporation is currently trading at Rs. 254.10, up by 7.05 points or 2.85% from its previous closing of Rs. 247.05 on the BSE.

The scrip opened at Rs. 251.00 and has touched a high and low of Rs. 255.00 and Rs. 251.00 respectively. So far 562882 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 432.00 on 20-Oct-2014 and a 52 week low of Rs. 208.00 on 25-Aug-2015.

Last one week high and low of the scrip stood at Rs. 248.30 and Rs. 222.30 respectively. The current market cap of the company is Rs. 218036.67 crore.

The promoters holding in the company stood at 68.93%, while Institutions and Non-Institutions held 17.65% and 13.41% respectively.

ONGC will set up 280 wells across 400 sq km area for drilling coalbed methane in Jharkhand. Coalbed methane is a form of natural gas extracted from coal beds. The wells will come up at North Karanpura, Bokaro and Jharia and coal bed methane will be generated in 15 to 20 years. Each well will require 1.7 acre land and for that Jharkhand state will get royalty to the tune of around Rs 720 crore as the state government has assured allotment of land to the public sector unit.

ONGC is an Indian multinational oil and gas company headquartered in Dehradun, India. It is India’s largest oil and gas exploration and production company.