ONGC rose 1.75% to Rs 433.45 at 10:59 IST on BSE after a foreign brokerage has maintained buy on the stock stating that the company is a reform play and had maximum potential to gain.
Meanwhile, the S&P BSE Sensex was up 121.90 points or 0.46% at 26,482.01.
On BSE, so far 2.07 lakh shares were traded in the counter as against average daily volume of 7.42 lakh shares in the past two weeks.
The stock hit a high of Rs 434.15 and a low of Rs 426.50 so far during the day. The stock had hit a record high of Rs 472 on 9 June 2014. The stock had hit a 52-week low of Rs 234.40 on 28 August 2013.
ONGC's net profit rose 19.1% to Rs 4781.79 crore on 13.2% growth in net sales to Rs 21747 crore in Q1 June 2014 over Q1 June 2013.
ONGC is India's largest government-run corporation and produces about 70% of India's crude oil and natural gas.
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