Oil & Natural Gas Corporation (ONGC) CMD Sudhir Vasudev made payment of interim dividend of Rs 29.61 billion to Petroleum Minister M. Veerappa Moily for the year 2012-13.

CMD Sudhir Vasudev presented interim dividend payment of Rs 29.61 billion to Petroleum Minister M. Veerappa Moily for the year 2012-13.

This represents dividend payment at 100% of the equity capital held by the government in ONGC. (Q,N,C,F)*

CMD ONGC also briefed the minister about various activity of the company. The minister noted the issues facing the Navratna PSU.

The minister emphasized the need for quick decision making to expedite resolution of the issues.

Shares of the company gained Rs 6.4, or 2.29%, to trade at Rs 286.15. The total volume of shares traded was 241,074 at the BSE (10.49 a.m., Friday).