ONGC gains 5% as ONGC Videsh makes fourth commercial oil find in Colombia
Shares of Oil and Natural Gas Corporation (ONGC) surged early 5 per cent to Rs 94 on the BSE in the early morning deals on Monday after the company announced that its overseas subsidiary has smade a “significant strike of oil” in Columbia. This is the fourth commercial find in the block by ONGC Videsh.
The stock of the state-owned oil exploration and production company was trading at its highest level since March 2020. At 09:25 am, it was trading at Rs 93.15, up 4 per cent, as compared to a 0.15-per cent gain in the S&P BSE Sensex. Around 1 million equity shares had changed hands on the counter on the NSE and BSE till the time of writing of this report.
