ONGC shares up ahead of Q1 results
Shares of Oil and Natural Gas Corporation (ONGC) were trading higher in the morning trade on Tuesday ahead of its financial results for the quarter ended June 30.
The scrip was trading 0.92 per cent up at Rs 131.60 at around 10.15 am (IST), while the benchmark BSE Sensex was down 195 points, or 0.52 per cent, at 37,387 around the same time.
KR Choksey Shares and Securities believes that ONGC is likely to report healthy performance owing to rise in crude prices on a sequential basis coupled with rising gas production. However, declining gas production can be a slight negative. Average realisation is estimated at $67 per barrel for the quarter.
