ONGC Shares Fall Over 5% In Two Days Amid Divestment Buzz


The administration is hoping to offer 5 for every penny stake in state-run oil investigation organization Oil and Natural Gas Corporation (ONGC). 

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As indicated by reports, the legislature is wanting to offer 5 for each penny stake in the organization so as to meet FY17 disinvestment focus of Rs. 56,500 crore. 

Tailing this advancement, ONGC offers have fallen 5.45 for every penny in the last two exchanging sessions. 

As of June 2016, the legislature held 68.93 for each penny stake in ONGC and at the present business sector cost of Rs. 247.50, the proposed offer deal by the legislature would get over Rs. 10,500 crore to the legislature. 

ONGC shares were exchanging 0.86 for every penny lower at Rs. 247.40, undeperforming the Nifty which was up 0.3 for every penny.

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