ONGC up on submitting revised development rights for Iran field

The stock spurted nearly 2 percent in opening trades.

ONGC has spurted nearly 2 percent to a high of Rs. 231 on the back of positive news flow.

According to media reports, the company's overseas investment arm, ONGC Videsh, had submitted a revised proposal seeking the development rights of Iran's giant gas field Farzad B.

The stock, however, has pared gains and is now up a percent at Rs. 229. Around 146,000 shares have changed hands at the counter so far on the BSE.

Meanwhile, the Sensex has gained 160 points at 25,902.