ONGC rises on commencing production from CBM block in Jharkhand
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Oil & Natural Gas Corporation is currently trading at Rs. 330.05, up by 7.65 points or 2.37% from its previous closing of Rs. 322.40 on the BSE.
The scrip opened at Rs. 325.00 and has touched a high and low of Rs. 331.70 and Rs. 321.60 respectively. So far 602783 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 331.70 on 18-Jul-2024 and a 52 week low of Rs. 165.95 on 20-Jul-2023.
Last one week high and low of the scrip stood at Rs. 331.70 and Rs. 295.10 respectively. The current market cap of the company is Rs. 415086.31 crore.
The promoters holding in the company stood at 58.89%, while Institutions and Non-Institutions held 38.06% and 3.05% respectively.
Oil and Natural Gas Corporation (ONGC) has commenced its production from Coal Bed Methane (CBM) block in Bokaro, Jharkhand. CBM is an unconventional source of natural gas and an alternative source for augmenting India’s energy resource. It’s a humble beginning and initial production of 1,70,000 standard cubic meters per day (SCMD) and expected to ramp upto 3,00,000 SCMD by end of the current Financial Year.
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.
