ONGC slips in spite of nod for investment

The stock slipped to a low of Rs 1,205 and finally ended with a loss of 1.4% at Rs 1,213. Around 1 lakh shares were traded on the BSE today.
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(Updated at 0939 hrs)

The stock has slipped in spite of the government allowing ONGC Videsh (OVL) to spend Rs 1,651 crore for oil exploration in two deep-sea blocks in Nigeria over the next five years.

ONGC has opened at Rs 1,231 and soared to a high of Rs 1,240.The scrip is now trading at Rs 1,208, down 2% from its previous close.The counter has clocked volumes of 0.32 lakh shares on the BSE.