MUMBAI, Dec 9 (Business Standard): Shares of Oil and Natural Gas Corporation (ONGC) have declined to their lowest level since May 13, 2014, down nearly 4 per cent to Rs 354 on the NSE, after Brent crude oil price hit a new five-year low.
"Brent and US crude oil each fell more than $2 a barrel on Monday to a new five-year low amid a rising number of predictions that oversupply would extend well into 2015," the Reuters report suggests.
The stock of the country's biggest explorer has underperformed the market dropping nearly 24 per cent from its record closing high of Rs 466 on June 6, 2014 compared to about 10 per cent rise in the benchmark CNX Nifty.
ONGC hits 7-month low
FE Team | Published: December 10, 2014 00:00:00 | Updated: November 30, 2026 06:01:00
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