ONGC was formerly known National Thermal Power Corporation Ltd. It belongs to Nifty 50 group of companies and a major company in oil and natural gas exploration. For this reason fluctuations in ONGC share price affects the benchmark index heavily.
Live Stock Quote: ONGC 164.45 -1.40 -0.84%
ONGC Share Price Graph
Oil and Natural Gas Commission was established in in 1959. Later, in 1993 it was incorporated as Oil and Natural Gas Corporation, popularly known as ONGC, as a public limited company. It is a Schedule A Navaratna Company under direct administrative control of Petroleum and Natural Gas Ministry of Government of India and the government owns 74.14% stake in ONGC. In 1955 our government decided to explore our natural resources for which the Oil and Natural Gas Directorate was established as a part of public sector development. Next year mineral oil industry was declared a Schedule A industry.
ONGC has always focussed on exploration. Till date it has found natural resources of oil and gas in Assam, Gujarat (Cambay basin) and added areas with viable possibility of oil exploration in East Coast basin ( both inland and offshore) and the Assam-Arakan Fold Belt. ONGC had another important feather to its crown, when in early 70s, it successfully found offshore oil near Mumbai coastline popularly known as Mumbai high (earlier Bombay high). Mumbai high has been an important source of oil and natural gas ever since. ONGC also has strong global presence in this sector. Another important thing is that though ONGC is into exploration business it has always followed a self sustained self reliant business model.
ONGC has has few subsidiaries as follows.
- OVL (ONGC Videsh Limited)
- ONG BV (ONGC Nile Ganga BV)
- ONL (ONGC Narmada Limited)
- MRPL (Mangalore Refineries and Petrochemicals Limited)
- OAAL (ONGC Amazon Alaknanda Limited)
- ONGC Mittal Energy Limited
ONGC has the motto of considering people and environment above everything and has been awarded many times for its approach towards CSR (corporate social responsibility).
Company Financials – ONGC share price is Rs 160.25 (as on 28.06.17, 10.08 hrs.) in BSE. As per latest data, the standalone basis P/E is 11.47 versus average industry PE of 13.39, EPS is Rs 13.95. Market cap is Rs 2,05,268 crores. The face value of share is Rs 5.
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