ONGC trades higher on the bourses

18 Jan 2013 Evaluate

ONGC is currently trading at Rs. 338.15, up by 23.65 points or 7.52% from its previous closing of Rs. 314.50 on the BSE.

The scrip opened at Rs. 318.25 and has touched a high and low of Rs. 354.10 and Rs. 318.25 respectively. So far 18, 29,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 354.10 on 17-Jan-2013 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. 320.80 and Rs. 289.80 respectively. The current market cap of the company is Rs. 2, 89,303 crore.

The promoters holding in the company stood at 69.23% while Institutions and Non-Institutions held 16.95% and 13.82% respectively.

State-owned oil and Gas Company, Oil & Natural Gas Corporation (ONGC) is planning to invest Rs 86,862 crore in 44 mega projects in the current Plan period. The 44 mega projects comprise of 16 on-land projects and 28 offshore projects. Maximum projects are lump-sum turnkey contracts (LSTK).

However, the LSTK is not the most efficient way of awarding contracts and therefore company is considering other options to award such contracts mainly ‘open book’ a cheaper and more efficient route of executing a contract. In an open book contract, the company and contractor agree on the costs that are remunerable and the margin that can be added in the contract.

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.

ONGC Share Price

241.95 -2.40 (-0.98%)
19-Dec-2024 16:59 View Price Chart
Peers
Company Name CMP
ONGC 241.95
Oil India 439.10
Jindal Drilling&Inds 743.85
Hind Oil Exploration 196.70
Deep Industries 602.20
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