Energy major Oil and Natural Gas Corporation Limited (ONGC)’s equity share surged by around 5 per cent to Rs 94 during intra-day trading on the Bombay Stock Exchange (BSE) on 7 December 2020. This was the highest level at which the Maharatna’s stocks traded since the COVID-19 lockdown in March 2020.

The share of the Energy Maharatna closed at Rs 91.95 at BSE, up 2.34 per cent, almost thrice compared to the 30-share Sensex gain of 0.77 per cent during the day. At the broader National Stock Exchange (NSE), ONGC shares closed at Rs 91.55, up 1.89 per cent, reaching Rs 94 during intra-day trading. The total volume of shares traded is 46,637,342 at NSE and 4,196,97 at the BSE.

Image Courtesy: BSE (bseindia.com)

The market cap of ONGC is now over Rs 115,675 crore (BSE). ONGC has the second highest market cap among Public Sectors Enterprises in India.

The 12-months trailing Earning Per Share (EPS) of ONGC stood at around 2.5. The Price to Earnings (PE) of ONGC has increased from around 8 in the beginning of 2020 to 36 now.

ONGC had issued a release communicating a discovery by its overseas subsidiary, after the markets closed on Friday 4 December 2020.