ONGC fell 1.74% to Rs 73.35, extending losses for the fifth straight day.
The stock has fallen 21.38% in five sessions from its recent closing high of Rs 93.30 recorded on 3 March 2020.
The scrip has hit its 52-week low of Rs 73.15 in intraday today.
The recent steep decline in ONGC was triggered by a slump in crude oil prices after top oil producers Saudi Arabia and Russia started a price war that threatens to overwhelm global oil markets with supply.
In the commodities market, Brent crude for May 2020 settlement was up 93 cents to $38.15 a barrel. It slumped 24.10% to $34.36 on 9 March 2020. It recovered 8.32% to settle at $37.22 on Tuesday, 10 March 2020.
Lower crude oil prices would result in decrease in realizations from crude sales for oil exploration firms.
ONGC is engaged in the exploration, development and production of crude oil and natural gas. As of 31 December 2019, the Government of India held 62.78% stake in the company.
On a consolidated basis, the oil miner's net profit slumped 43.7% to Rs 5,383.80 crore on 6.7% decline in net sales to Rs 1,09,443.39 crore in Q3 FY20 over Q3 FY19.
Meanwhile, ONGC's board will meet today (11 March 2020) to consider interim dividend for the FY2019-20, if any.
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