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ONGC, Oil India gain 3% in tandem with crude oil prices

Crude oil prices increased around 6 per cent on Tuesday amid news reports of lower supply by oil producers and easing of lockdown restrictions in parts of China

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Photo: Bloomberg

Deepak Korgoankar Mumbai
Shares of state-owned oil exploration & production companies like Oil and Natural Gas Corporation (ONGC) and Oil India gained 3 per cent on the BSE in Wednesday's intra-day trade in an otherwise subdued market after oil prices surged. Crude oil prices increased around 6 per cent on Tuesday amid reports of lower supply by oil producers and easing of lockdown curbs in parts of China.

At 10:47 AM, ONGC and Oil India were up 3 per cent at Rs 173.85 and Rs 237.20, respectively, on the back of heavy volumes. In comparison, the S&P BSE Sensex was up 0.04

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