The deal is likely to be completed within the next few months, says report.
ONGC and GSPC are in talks to negotiate the price at which ONGC will acquire 50%+ stake in the latter’s 1,850 square kilometer KG Basin block, according to reports.
Report says that GSPC is the operator for the block and has an 80% share in the consortium.
The deal is likely to be completed within the next few months, says report.
The scrip opened at Rs. 209.5 and has touched a high and low of Rs. 212 and Rs. 209.5 respectively. So far 692060(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 178210.86 crore.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 337.15 on 28-May-2015 and a 52 week low of Rs. 188 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs. 220.9 and Rs. 207.2 respectively.
The promoters holding in the company stood at 68.93 % while Institutions and Non-Institutions held 17.45 % and 13.62 % respectively.
The stock is currently trading above its 200 DMA.
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