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13-Dec2017

ONGC trades higher on the bourses

Oil and Natural Gas Corporation (ONGC) is currently trading at Rs. 185.25, up by 2.30 points or 1.26 % from its previous closing of Rs. 182.95 on the BSE.

The scrip opened at Rs. 183.20 and has touched a high and low of Rs. 187.00 and Rs. 183.20 respectively. So far 346170 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. 155.30 on 27-Jun-2017.

Last one week high and low of the scrip stood at Rs. 187.00 and Rs. 175.10 respectively. The current market cap of the company is Rs. 237799.85 crore.

The promoters holding in the company stood at 68.07%, while institutions and non-institutions held 18.06% and 13.87% respectively.

ONGC has sought access to a data room to help fix the price at which it can acquire the government's 51.11 per cent stake in Hindustan Petroleum Corporation (HPCL).

India's largest oil and gas producer has so far been given an information memorandum (IM) by the government's transaction advisor, which ONGC feels is not sufficient to arrive at a valuation of HPCL.

ONGC wants to better understand HPCL's financials, particularly the investments it has committed in different projects like a greenfield refinery at Barmer in Rajasthan, before it embarks on buying the government stake which at today's price is worth over Rs 32,600 crore.


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