 "ONGC fixes record date for 1:2 bonus; stock hits fresh 52-week high")
Oil & Natural Gas Corporation (ONGC) was up 1.7% to Rs 300, also its fresh 52-week high on the BSE in intra-day trade, after the company fixed December 16 as record date for 1:2 bonus issue.
“The company has fixed December 16, 2016 as record date for the purpose of ascertaining the eligibility of shareholders for issuance of bonus shares in the ratio of 1 new equity bonus share of Rs 5 each for every 2 existing equity shares of Rs 5 each held,” ONGC said in a statement.
In past one month, the stock outperformed the market by gaining 12% as compared to 3.7% decline in the S&P BSE Sensex.
The decision by the Organization of the Petroleum Exporting Countries (OPEC) to cut crude oil production after a gap of eight years also led a rally in the oil exploration & production company.
At 01:44 pm; the stock was up 1% at Rs 298 on the BSE, as compared to 0.33% rise in the S&P BSE Sensex. A combined 3.08 million shares changed hands on the counter on the NSE and BSE.
“The company has fixed December 16, 2016 as record date for the purpose of ascertaining the eligibility of shareholders for issuance of bonus shares in the ratio of 1 new equity bonus share of Rs 5 each for every 2 existing equity shares of Rs 5 each held,” ONGC said in a statement.
In past one month, the stock outperformed the market by gaining 12% as compared to 3.7% decline in the S&P BSE Sensex.
The decision by the Organization of the Petroleum Exporting Countries (OPEC) to cut crude oil production after a gap of eight years also led a rally in the oil exploration & production company.
At 01:44 pm; the stock was up 1% at Rs 298 on the BSE, as compared to 0.33% rise in the S&P BSE Sensex. A combined 3.08 million shares changed hands on the counter on the NSE and BSE.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%