Oil & Natural Gas Corporation Ltd.

Oil and Natural Gas Corporation (ONGC) is currently trading at Rs. 174.20, up by 0.70 points or 0.40% from its previous closing of Rs. 173.50 on the BSE.

The scrip opened at Rs. 175.00 and has touched a high and low of Rs. 175.60 and Rs. 174.00 respectively. So far 7,69,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 212.00 on 31-Jan-2017 and a 52 week low of Rs. 138.17 on 24-Jun-2016.

Last one week high and low of the scrip stood at Rs. 182.95 and Rs. 172.90 respectively. The current market cap of the company is Rs. 2,23,554.00 crore.

The promoters holding in the company stood at 68.07%, while Institutions and Non-Institutions held 18.25% and 13.68% respectively.

ONGC is reportedly planning to invest around Rs 30,000 crore in 2017-18 to develop oil and gas fields, expand refining capacity, and build pipelines. This is slightly higher than the company’s spending of about Rs 28,000 crore in 2016-17.

State refiners are spending heavily to upgrade facilities to produce fuel with higher emission norms. All petrol and diesel sold must meet BS-VI emission norms from April 2020, according to the government mandate. Refiners today sell BS-IV fuels. All state refiners are also adding capacity at their existing plants to raise output to meet growing fuel demand in the country that rose 5% in 2016-17.

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.