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Indian-Commodity  :  Equity & Shares  :  ONGC trades in fine contour on the BSE

ONGC trades in fine contour on the BSE (30-Nov-2012)

Oil & Natural Gas Corporation (ONGC) is currently trading at Rs 261.60, up by 7.95 points or 3.13% from its previous closing of Rs 253.65 on the BSE.

The scrip opened at Rs 253.50 and has touched a high and low of Rs 262.30 and Rs 253.50 respectively. So far 231529 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 5 has touched a 52 week high of Rs 303.90 on 22-Feb-2012 and a 52 week low of Rs 240.10 on 23-May-2012.

Last one week high and low of the scrip stood at Rs 254.40 and Rs 248.75 respectively. The current market cap of the company is Rs 223683.29 crore.

The promoters holding in the company stood at 69.23% while Institutions and Non-Institutions held 17.00% and 13.78% respectively.

ICRA has assigned 'AAA' and 'A1+' ratings outstanding for ONGC's overseas investment arm, ONGC Videsh's (OVL) bank lines and various debt programmes. The outlook on the long-term rating is stable. While assigning the ratings to OVL, ICRA has been taking a consolidated view of OVL along with ONGC, considering that the company is wholly-owned by ONGC and is of strategic importance to ONGC by virtue of its status as its overseas E&P arm.

ONGC is a premier oil and gas company in India, accounting for 71% of the country's crude oil production and 54% of its natural gas production in 2011-12. It is also a significant producer of value added products such as liquefied petroleum gas (LPG), superior kerosene oil (SKO), and naphtha. GoI is the majority shareholder in ONGC, with a 69% equity stake as of now.


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