Shares of Oil and Natural Gas Corporation (ONGC) hit a 22-month high of Rs 135.80, surging 6 per cent on the BSE in Tuesday’s intra-day trade on improved outlook. The stock of the state-owned oil exploration and production company was trading at its highest level since November 2019.
The stock of other state-owned oil exploration & production firm, Oil India, rallied 7 per cent to Rs 209.05 on the BSE. It had hit a 52-week high of Rs 214.75 on September 17, 2021. In comparison, the S&P BSE Sensex was up 0.18 per cent at 58,598 points at 12:57 pm.
The global gas prices have continued to see a sharp uptick, driven by many factors, including fundamentals like more extreme weather, post-Covid recovery,
