ONGC surges on executing share purchase agreement to acquire stake in Petronet MHB
Oil & Natural Gas Corporation is currently trading at Rs. 167.50, up by 0.85 points or 0.51% from its previous closing of Rs. 166.65 on the BSE.
The scrip opened at Rs. 166.55 and has touched a high and low of Rs. 168.00 and Rs. 165.95 respectively. So far 125171 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 169.70 on 14-Jul-2023 and a 52 week low of Rs. 121.50 on 28-Sep-2022.
Last one week high and low of the scrip stood at Rs. 169.70 and Rs. 165.95 respectively. The current market cap of the company is Rs. 210216.47 crore.
The promoters holding in the company stood at 58.89%, while Institutions and Non-Institutions held 38.15% and 2.95% respectively.
Oil and Natural Gas Corporation (ONGC) has executed a Share Purchase Agreement to acquire 19,960 equity shares (equivalent to i.e. 0035%) of Petronet MHB (PMHBL), a subsidiary of the Company. Upon completion of transaction, the company’s equity stake would increase from 49.996% to 49.999%, in PMHBL.
ONGC is India’s largest government-run corporation and produces about 70% of India’s crude oil and natural gas. The corporation is the biggest public sector commercial organization in India.
