On the first trading day of the week, the
share of Oil & Natural Gas Corporation (ONGC) got a boost of up to 7 per
cent. The company's shares reached level of Rs 205.95 on Monday. Indeed, ONGC
has acquired 51.11% stake in Hindustan Petroleum Corporation Limited (HPCL) of
the Government of India. This is the reason why the stock of the company has
risen. At the close of the market, the stock price was at Rs. 200.70.
On Monday, ONGC stock opened at Rs 198 for
comparison closing price of 193.70 rupees a day earlier. During the business,
the company's share reached 7% up to the level of Rs 205.95. At the same time,
the company's share price remained low at Rs 198. If the market closes, the
stock will remain at a price. At the close of the market, the stock price was
at Rs. 200.70.
Oil and Natural Gas (ONGC) has announced to
acquire 51.11% stake in Hindustan Petroleum Corporation Limited (HPCL) of the
Government of India. This acquisition deal is Rs 36,915 crore. The filing made
by the company was told that the stake in HPCL has been purchased at the price
of ONGC 474 per share. These acquisitions will be completed by the end of
January.
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