 "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.