ONGC hits 4-month high; top gainer in Nifty 50

Shares of Oil & Natural Gas Corp hit a four-month high and was the top gainer today among the Nifty 50 stocks. The stock is trading at its highest level since June 5, 2017.

Oct 24, 2017 05:10 IST India Infoline News Service

ONGC4
Shares of Oil & Natural Gas Corp hit a four-month high and was the top gainer today among the Nifty 50 stocks. The stock is trading at its highest level since June 5, 2017.

The company, which will report its Jul-Sep results on Saturday, will also announce its first interim dividend. It has fixed November 1 as the record date for payment of dividend.

Oil & Natural Gas Corpn Ltd is currently trading at Rs 176.4, up by Rs 4.8 or 2.8% from its previous closing of Rs 171.6 on the BSE. The scrip opened at Rs 171.65 and has touched a high and low of Rs 177.15 and Rs 171.2 respectively. The stock is currently trading above its 200 DMA.

Oil and Natural Gas Corporation Limited is the largest oil and gas exploration and production company in India. It accounts for ~70% of India’s oil and gas production. Its FY17 domestic oil & gas production stood at 22.5 mmt and 22.09 mmt respectively.

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