ONGC soars 5%, hits fresh 32-month high post Q3 results, high oil prices
Shares of Oil & Natural Gas Corporation (ONGC) hit a fresh 32-month high at Rs 176.40, on rallying 5 per cent on the BSE in Monday’s intra-day trade as oil prices hit their highest in more than seven years on fears a possible invasion of Ukraine by Russia.
Meanwhile, the state-owned oil exploration & production company on Saturday reported nearly seven-fold jump in December quarter (Q3FY22) net profit after higher oil and gas prices offset a drop in production.
The stock surpassed its previous high of Rs 174.80 touched on January 31, 2022. It traded at its highest level since May 2019. At 10:11 am; ONGC traded 2 per cent higher at Rs 171.10, as compared to 1.9 per cent decline in the S&P BSE Sensex.
