ONGC jumps 9% after clarification on fire incident in Navi Mumbai plant
Shares of Oil and Natural Gas (ONGC) jumped as much as 9.02 per cent to Rs 129.80 on the BSE in the early trade on Thursday.
At 10:04 AM, the stock was trading 8 per cent higher at Rs 128.60 apiece on the BSE. In comparison, the benchmark S&P BSE Sensex was trading 100 points or 0.27 per cent higher at 36,825.
The stock got a boost after India’s foreign secretary said on Wednesday that India and Russia are targeting $30 billion of annual trade by 2025.
“Seeking to boost bilateral trade from its current $11 billion, the two countries announced deals in sectors including energy, defence and shipping after a meeting between Russian President Vladimir Putin and Prime Minister Narendra Modi at an economic forum in Vladivostok,” Reuters reported.
