ONGC is currently trading at Rs. 296.05, up by 4.35 points or 1.49% from its previous closing of Rs. 291.70 on the BSE.
The scrip opened at Rs. 293.75 and has touched a high and low of Rs. 303.90 and Rs. 293.75 respectively. So far 694564 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 325.50 on 29-Apr-2011 and a 52 week low of Rs. 226.95 on 15-Jul-2011.
Last one week high and low of the scrip stood at Rs. 303.90 and Rs. 277.20 respectively. The current market cap of the company is Rs. 253755.84 crore.
The promoters holding in the company stood at 74.14% while Institutions and Non-Institutions held 12.12% and 13.74% respectively.
State-owned Oil and Natural Gas Corporation (ONGC) is mulling to accelerate work on major oil and gas project in the Krishna Godavari (KG) basin by taking up works simultaneously with regard to exploration and development, so the company for this is seeking approvals from the Government.
The corporation commenced production from its GS 15 off shore project in a small way in August last year producing about 2,000 barrels per day oil and 0.18 cubic metres of gas. However, this project, which covers a large area -some in deeper blocks and some in relatively shallow areas, would require huge investment.
Although the company is keen to develop deep water blocks, the company, as of now, has not committed or fixed any numbers to the investment plans. Typically, because development of deep water blocks is estimated to take around 9-10 years. In case of Reliance, the company managed to do it in about 6-7 years.
In a separate development, the company expects appraisal for another site to be completed by the first quarter of next financial year. The ONGC is currently waiting for clearance from the Defence Ministry in respect of some blocks and it is expecting a conditional clearance by the middle of next month.
| Company Name | CMP |
|---|---|
| ONGC | 244.35 |
| Oil India | 445.05 |
| Jindal Drilling&Inds | 745.70 |
| Hind Oil Exploration | 194.15 |
| Deep Industries | 614.05 |
| View more.. | |
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