Oil and Natural Gas Corporation (ONGC) is currently trading at Rs. 191.75, up by 1.10 points or 0.58% from its previous closing of Rs. 190.65 on the BSE.
The scrip opened at Rs. 191.00 and has touched a high and low of Rs. 192.60 and Rs. 191.00 respectively. So far 97,000 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. 133.40 on 16-May-2016.
Last one week high and low of the scrip stood at Rs. 193.85 and Rs. 189.50 respectively. The current market cap of the company is Rs. 2,46,269.00 crore.
The promoters holding in the company stood at 68.93%, while Institutions and Non-Institutions held 17.46% and 13.60% respectively.
ONGC has inked definitive agreements to buy out debt-ridden GSPC’s entire 80% stake in KG-basin natural gas block for $1.2 billion. The company will pay $995.26 million for three discoveries in the KG-OSN-2001/3 block that are under trial production since August 2014. Another $200 million will be paid for six other discoveries for which GSPC has been finalizing an investment plan to bring them to production.
The company will close the deal and pay the Gujarat State Petroleum Corporation (GSPC) the money after regulatory approvals like government nod for transfer of PI (participating interest) and change of operatorship are secured.
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.