{"id":341223,"date":"2020-03-11T10:40:04","date_gmt":"2020-03-11T05:10:04","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=341223"},"modified":"2020-03-11T10:58:38","modified_gmt":"2020-03-11T05:28:38","slug":"ongcs-m-cap-slips-below-rs-1-trn-mark-after-15-years-on-oil-price-crash","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/ongcs-m-cap-slips-below-rs-1-trn-mark-after-15-years-on-oil-price-crash\/","title":{"rendered":"ONGC&#8217;s m-cap slips below Rs 1 trn-mark after 15 years on oil price crash"},"content":{"rendered":"<p>Shares of Oil and Natural Gas Corporation (ONGC) hit an over 15-year low of Rs 78.05, down 12 per cent, on the BSE on Monday as oil plunged over 20 per cent today after top exporter Saudi Arabia launched a price war in response to a failure by leading producers to strike a deal to support energy markets. <\/p>\n<p>ONGC has seen its steepest price correction with the stock price plunging 37 per cent in the last two months as against a 13 per cent fall in the S&amp;P BSE Sensex. A combination of exchange traded fund (ETF) sale overhang, lower gas prices, and lower Brent prices drove the decline. <\/p>\n<p>A sharp decline in market price of state-owned company pushed the company&#8217;s market capitalisation (market-cap) below Rs 1 trillion-mark for the first time since August 2004. At 10:01 am, ONGC market-cap stood at Rs 98,818 crore, BSE data shows.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Shares of Oil and Natural Gas Corporation (ONGC) hit an over 15-year low of Rs 78.05, down 12 per cent, on the BSE on Monday as oil plunged over 20 per cent today after top exporter Saudi Arabia launched a price war in response to a failure by leading producers to strike a deal to support energy markets. ONGC has seen its steepest price correction with the stock price plunging 37 per cent in the last two months as against a 13 per cent fall in the S&amp;P BSE Sensex. A combination of exchange traded fund (ETF) sale overhang, lower [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-341223","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/341223","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=341223"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/341223\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=341223"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=341223"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=341223"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}