Oil & Natural Gas Corporation (ONGC), the national oil company of India, gained on Monday after the company subsidiary ONGC Videsh and Rosneft signed memorandum of understanding (MoU) for cooperation in exploration, appraisal and hydrocarbon production on the continental shelf of the Russian Federation.
T
he parties will jointly consider forming a consortium led by Rosneft and involving other partners.
Shares of the company are trading at Rs 423.30, up Rs 15.8, or 3.88% at the Bombay Stock Exchange (BSE) on Monday at 12:25 p.m.
The scrip has touched an intra-day high of Rs 424.80 and low of Rs 410.50. The total volume of shares traded at the BSE is 389,864.
In the earlier session, the shares gained 3.68%, or Rs 14.45, at Rs 407.50. Currently, the stock is trading all time 52-week high, which is above 80.59% over the 52-week low of Rs 234.40.
