ONGC stock soars 4%; among top Nifty gainers today

The board of directors of ONGC, at the 308th meeting held on June 29, accorded its in-principle approval for exploring options for the restructuring of ONGC group companies,” the company said in the filing. The board of state-owned Oil and Natural Gas Corp (ONGC) has given in-principle approval for exploring options for a restructuring of the group firms, including the merger of subsidiaries MRPL and HPCL.“The board of directors of ONGC, at the 308th meeting held on June 29, accorded its in-principle approval for exploring options for the restructuring of ONGC group companies,” the company said in the filing. The move by the board is largely in line with the Union Budget announcement made in February to create a public sector oil major that can compete and perform well against other global and domestics firms. The company also noted that the announcement had already seen ONGC take over the government’s stake in HPCL earlier this year.

To Get Free Trial 
Missed call @ 9582541010 
Call Us @ 8822117117 
Mail Us = starindiamarket@gmail.com 
Visit = http://www.starindiaresearch.com/freetrail.php