ONGC trades ex-interim dividend; stock gains 2%
Shares of Oil and Natural Gas Corporation (ONGC) were trading 2 per cent higher at Rs 146 apiece on the BSE, also the top gainer among the benchmark indices S&P BSE Sensex and Nifty 50 at 10:20 am.
The stock of state-owned oil exploration & production (E&P) company adjusted for an interim dividend of Rs 5.25 per share. ONGC has fixed Friday, March 1, 2019, as the record date for determining the eligibility of shareholders for payment of interim dividend.
In the past two weeks, ONGC has beat the market by gaining 11 per cent after it reported a strong 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. In comparison, the benchmark S&P BSE Sensex remained flat during the same period.
