ONGC Shares Hit Record High, Reflecting Robust Financial Health

ONGC's share price surged past Rs 323 with a 5.18 per cent intraday gain, marking the highest market capitalization in the company's history. This achievement showcases ONGC's financial robustness and the positive impact of governmental reforms in the oil and gas sector.

Oil and Natural Gas Corporation (ONGC) saw its share price surge past Rs 323, recording a 5.18 per cent intraday gain on Tuesday—an all-time high for the company. This leap propelled ONGC's market capitalization to Rs 4.06 lakh crore, the highest in its history.

The surge in share prices underscores ONGC's strong financial health and strategic direction. Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri, praised this achievement on social media platform X (formerly known as Twitter), noting the remarkable gains across Oil & Gas PSUs under Prime Minister Narendra Modi's leadership.

Minister Puri posted, congratulating ONGC for hitting this milestone, attributing the success to the Prime Minister's guidance and the transformative decisions that have bolstered PSUs. ONGC echoed this sentiment, celebrating the record performance and its implications for the company's future.

The remarkable performance of ONGC shares is part of a broader upswing in the oil and gas sector, driven by targeted government reforms. These efforts have streamlined regulatory frameworks, improved production capabilities, and enhanced transparency and efficiency within PSUs.

The focus on energy security and self-reliance has been paramount in driving growth. ONGC, as India's largest oil and gas exploration and production company, has shown remarkable resilience and adaptability. The company's investments in technology, infrastructure, and sustainable practices have cemented its position as a global energy leader.

(With inputs from agencies.)