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ONGC drops ex-dividend

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Capital Market Mumbai

Meanwhile, the BSE Sensex was up 79.77 points or 0.41% at 19,321.77.

On BSE, 3,422 shares were traded in the counter as against average daily volume of 2.26 lakh shares in the past one quarter.

The stock hit a high of Rs 259 and a low of Rs 256.05 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.

The stock had underperformed the market over the past one month till 21 December 2012, rising 3.49% compared with the Sensex's 4.23% gain. The scrip had also underperformed the market in past one quarter, declining 10.99% as against Sensex's 2.61% gain.

 

The large-cap oil exploration company has equity capital of Rs 4277.74 crore. Face value per share is Rs 5

Before turning ex-dividend, the stock offered a dividend yield of 1.91% based on the closing price of Rs 261.10 on Friday, 21 December 2012.

The Minister of Petroleum & Natural Gas Dr. M. Veerappa Moily informed Rajya Sabha in a written reply on 18 December 2012, that Russia's Rosneft has invited ONGC Videsh to participate jointly in the exploration of the two blocks viz. Magadan-2 and Magadan-3 situated in the Okhotsk Sea in the eastern part of Russian Federation. The Okhotsk Sea is bounded by mainland Russia in the west and north and by Kamchatka-Kuril peninsula towards east and northeast Hokkaido (Japan) to the south. A team of ONGC Videsh visited the data room and the blocks are currently under evaluation, Dr. Moily said. Based on initial evaluation, the two blocks are indicated to be ranked exploratory in nature and involve high risk of investment, he added.

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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First Published: Dec 24 2012 | 11:32 PM IST

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