Shares of Oil and Natural Gas Corporation (ONGC) were trading higher for the fifth straight session, rising 2 per cent to Rs 146 apiece on the BSE in intra-day trade after the company reported a strong December 2018 (Q3FY19) result.
In past one week, the stock of state-owned oil exploration firm outperformed the market by gaining 11 per cent against 0.30 per cent decline in the S&P BSE Sensex. It recovered 13 per cent from its 52-week low of Rs 129 touched on February 14, 2019, on the BSE in intra-day trade.
ONGC reported a 65 per cent jump in net profit at Rs 8,263 crore in Q3FY19, as higher prices made up for a fall in oil output. It had a profit of Rs 5,015 crore in the same period of the previous fiscal.
