ONGC rebounds from day's low; stock trades ex-bonus
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Oil and Natural Gas Corporation (ONGC) has moved higher by 2.4% to Rs 209 in late noon deal, bouncing back nearly 4% from intra-day low on the BSE, in otherwise volatile market. The stock hit a low of Rs 201 in early morning trade.
ONGC turned today ex-bonus in the ratio of 1:2. The stock price factored in the issuance of bonus shares to the existing investors.
The company engaged in oil exploration & production business 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.
At 02:40 pm; the stock was up 2% at Rs 208 on the BSE as compared to 0.07% decline in the S&P BSE Sensex. A combined 8.55 million shares changed hands on the counter on the BSE and NSE so far.
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