ONGC dropped 1.89% to Rs 299.10 at 10:55 IST on BSE as the stock turned ex-dividend today, 10 December 2013, for an interim dividend of Rs 5 per share for the year ending March 2014.
Meanwhile, the S&P BSE Sensex was down 82.73 points, or 0.39%, to 21,243.69
On BSE, 74,493 shares were traded in the counter compared with average volume of 2.71 lakh shares in the past one quarter.
The stock hit a high of Rs 303.80 and a low of Rs 298.30 so far during the day. The stock hit a 52-week high of Rs 354.10 on 18 January 2013. The stock hit a 52-week low of Rs 234.40 on 28 August 2013.
The stock had outperformed the market over the past one month till 9 December 2013, rising 9.94% compared with the Sensex's 3.19% rise. The scrip, however, underperformed the market in past one quarter, gaining 5.43% as against Sensex's 10.67% rise.
The large-cap state-run oil explorer has an 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 1.64% based on the closing price of Rs 304.85 on Monday, 9 December 2013.
ONGC's net profit rose 2.8% to Rs 6063.86 crore on 9.7% growth in total income to Rs 23897.64 crore in Q2 September 2013 over Q2 September 2012.
ONGC's gross subsidy discount rose 11.9% to Rs 13796 crore in Q2 September 2013 over Q2 September 2012. The subsidy discount impacted the profit before tax (PBT) by Rs 11545 crore and profit after tax (PAT) by Rs 7621 crore. ONGC shares the under recoveries of state-run oil marketing companies (PSU OMCs) by allowing discount in the prices of crude oil, PSD kerosene, and domestic LPG based on the rates of discount communicated by the Ministry of Petroleum and Natural Gas and the Petroleum Planning and Analysis Cell.
The Government of India (GoI) owned 69.23% stake in ONGC (as per the shareholding pattern as on 30 September 2013).
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