ONGC shares flat even as firm may miss production target




The scrip touched its fresh 52-week high of Rs 212 on January 31, 2017 and its 52-week low of Rs 155.30 on June 26, 2017. NSEBSEONGCLoading data…

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    ChartsValuation & Peer ComparisonCommunity BuzzPEER COMPANIES NEW DELHI: ONGC shares were trading flat in Monday’s session even as media reports suggested that the company will fail to meet the June 2019 deadline to produce gas from its Krishna Godavari (KG) 98/2 block.

    The stock seemed to remain unaffected and was trading 0.06 per cent up at Rs 162 on BSE. It opened at Rs 161.55 and touched an intraday high and low of Rs 163.25 and Rs 161.05 respectively, in the morning deals.

    ONGC had acquired 80 per cent stake in GSPC’s Deen Dayal West (DDW) gas field in KG-OSN-2001/3 block worth Rs 7,738 crore, last month and aims to double its gas production in the next five-to-six years.

    Promoters held 68.07 per cent stake in the company as of June 2017.

    For the quarter ended June 30, 2017, the company reported total revenue at 19,073.54 crore and net profit stood at 3,884.73 crore.

    The scrip touched its fresh 52-week high of Rs 212 on January 31, 2017 and its 52-week low of Rs 155.30 on June 26, 2017.




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