ONGC share bulled around 5.1 per cent

ONGC share bulled around 5.1 per cent ONGC share bulled around 5.1 per cent on Thursday, following the state run company obtained the government’s authorization for a share split as well as bonus issue.

Minister for Oil Murli Deora said to Reuters the cabinet had accepted issue of 1 free stock to Oil and Natural Gas Corp share holders for every share kept, however didn’t point out what the ratio was for share split.

ONGC had planned to the govt to split every share in to 2 in front of a planned share selling in the firm, Chairman R.S. Sharma mentioned last month.

shares in Oil and Natural Gas Corp , India’s 2nd-most valued company at greater than $62 billion, were trading 2.8 per cent upward at 1,324 rupees, having increased up to 1,353.85 earlier.

The stocks are up around 12 per cent this year, in comparison with a 14 % increase in the main index.

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