Oil & Natural Gas Corporation (ONGC) shares gained on Wednesday as dealers citing hopes of reforms on subsidies and gas prices.

The government plans to sell a stake in ONGC later this year.

Shares of the company are trading at Rs 425.40, up Rs 7.3, or 1.75% at the Bombay Stock Exchange (BSE) on Wednesday at 12:25 p.m.

The scrip has touched an intra-day high of Rs 428.35 and low of Rs 423.60. The total volume of shares traded at the BSE is 222,094.