Meanwhile, the BSE Sensex was up 98 points or 0.5% at 19,761.55
On BSE, 95,335 shares were traded in the counter as against average daily volume of 2.44 lakh shares in the past one quarter.
The stock hit a high of Rs 302.45 and a low of Rs 294.55 so far during the day. The stock had hit a 52-week low of Rs 240.10 on 23 May 2012. The stock had hit a 52-week high of Rs 303.90 on 22 February 2012.
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The stock had outperformed the market over the past one month till 10 January 2013, rising 13.45% compared with the Sensex's 1.31% gain. The scrip had also outperformed the market in past one quarter, gaining 9.25% as against Sensex's 5.54% rise.
The large-cap oil exploration company has equity capital of Rs 4277.74 crore. Face value per share is Rs 5
Shares of ONGC were on a roll recently, advancing 17.83% in twelve trading sessions to Rs 301.90 on 10 January 2013 from its recent low of Rs 256.20 on 24 December 2012. Shares of the state-run oil exploration firm were boosted in anticipation of lower subsidy burden triggered by reports that the government is trying to build consensus for raising diesel, cooking gas and kerosene prices to reduce subsidy bill and manage deficit. A hike in fuel price augurs well for ONGC as it shares part of the under-recoveries of state-run oil refining-cum-marketing firms arising from the government-imposed price caps on three key fuels including diesel, LPG for domestic use and kerosene sold through the public distribution system.
ONGC's net profit fell 31.8% to Rs 5896.57 crore on 12.5% decline in net sales to Rs 19788.18 crore in Q2 September 2012 over Q2 September 2011.
The Government of India (GoI) holds 69.23% stake in ONGC (as per the shareholding pattern as on 30 September 2012).
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