Oil & Natural Gas Corporation (ONGC) is currently trading at Rs 283.55, down by 4.05 points or 1.41% from its previous closing of Rs.287.60 on the BSE.
The scrip opened at Rs 288.10 and has touched a high and low of Rs 289.40 and Rs 283.00 respectively. So far 185222 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 289.70 and Rs. 280.35 respectively. The current market cap of the company is Rs 242804.81 crore.
The promoters holding in the company stood at 69.23% while Institutions and Non-Institutions held 16.96% and 13.82% respectively.
The Comptroller and Auditor General (CAG) has slammed state-owned Oil & Natural Gas Corporation (ONGC) for not placing desired emphasis on discovering oil and gas and being behind the schedule in monetizing its discoveries, as mentioned in few media reports. CAG's report on Hydrocarbon Exploration Efforts of ONGC, which was tabled in Parliament today, underscored concern at the company's lack of adequate efforts, besides highlighting its anomalies in MoU target setting and reporting as well as performance measurement which could potentially mislead the stakeholder.
The official auditor also besides pointing several deficiencies in operations (procurement, hiring and contracting) urged the Ministry of Petroleum and Natural Gas/ONGC to do a de-novo review of MoU targets by placing desired emphasis on performance parameters directly linked to exploration.
Blaming ONGC for being tardy in purchase of seismic survey vessel, CAG reported that less than 50% of the basins were only able to meet 2D/3D survey targets. Further, CAG mandated the company to introduce transparency and competitive tension in the process of hiring consultants/expert. Moreover, it recommended the company to a review of Reserve Replacement Ratio (RRR) as a performance parameter for ensuring performance in exploration efforts.
| Company Name | CMP |
|---|---|
| ONGC | 243.10 |
| Oil India | 442.00 |
| Jindal Drilling&Inds | 745.00 |
| Hind Oil Exploration | 195.45 |
| Deep Industries | 604.50 |
| View more.. | |
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