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The equity shares of Energy Maharatna ONGC rose to its highest level since November 2019 as its shares at the Bombay Stock Exchange (BSE) grew to its 52 week high to reach Rs 139.90 on 24 September 2021. With this whooping leap in share prices, the National Oil Company has overridden its earlier record of Rs 130.65 touched on 15 September 2021.

ONGC equity shares near two-year high

On the broader National Stock Exchange (NSE), the equity shares of ONGC also witnessed an intra-day high of 139.90. The market capitalization of the organization neared Rs 1.7 lakh crores. The surge on both the indexes can be attributed to crude oil prices gaining its 3-year high and the strong fundamentals of ONGC.

Oil companies around the world had witnessed a slump in equity shares earlier in 2020 due to the slashed demands owing to lockdown imposed in view of the COVID-19 pandemic.

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