The stock ended highest at Rs 322.55 in a 5 per cent upturn. An acuate raise witnesses ONGC's market capitalisation in the stock price crossing Rs 4 trillion marking a 0.8 per cent surge in the BSE Sensex (Image: X @ONGC)
Oil and Natural Gas Corporation (ONGC) broke its record surging past Rs 323 with a 5.18 per cent intraday gain which propels the market cap to Rs 4.06 lakh crore and has marked as the highest ever in the ONGC’s history, the company stated in an X post.
📈 #ONGC Breaks Records!
On 15 July 2024, our share price surged past ₹323 with a 5.18% intraday gain, propelling our market cap to ₹4.06 lakh crore—the highest ever in ONGC’s history! #YouAreEnergy | #EnergyNowAndNext pic.twitter.com/XKSa4gnM8d
— Oil and Natural Gas Corporation Limited (ONGC) (@ONGC_) July 15, 2024
The stock owned by the state has outdone its previous gain of Rs 314.67 marked on June 9, 2014, which surmounted the range after a decade. The stock ended highest at Rs 322.55 in a 5 per cent upturn. An acuate raise witnesses ONGC‘s market capitalisation in the stock price crossing Rs 4 trillion marking a 0.8 per cent surge in the BSE Sensex.
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ONGC is seen as the 15th most valuable company listed as the third most valued public sector undertaking (PSU) after SBI (Rs 7.87 trillion) and LIC (Rs 6.70 trillion) as per the BSE data. The stock share of ONGC has improved by 43 per cent from a low phase which was at Rs 227 on June 6. The value has increased surging 91 per cent in the benchmark index.
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Maharatna ONGC is considered the largest producer of crude oil and natural gas in India. Apart from that the company engage in the exploration, and development of value-added products such as liquified petroleum gas (LPG), naphtha and superior kerosene oil (SKO) contributing over 68.2 per cent to the domestic production in the country. In Norway, Vietnam, Egypt, Tunisia, Iran and Australia company has joint ventures in the oil fields significantly aiding the fuel ground in oil production,
