ONGC on hotbed, touches new low on clarification over OALP-1 contracts; share down 15%, all details here
Reportedly, mining mogul Anil Agarwal-led Vedanta Ltd walked off with 41 out of 55 oil and gas exploration blocks offered in OALP-1, contracts for which were signed at a function on 1st Oct. State-owned Oil India Ltd won nine blocks, while Oil and Natural Gas Corp managed to win just two.
ONGC has cracked a low of Rs 149.10 per piece resulting in overall decline of 15% on BSE, Image source: Reuters