The Oil and Natural Gas Corporation (ONGC) auction, expected to have started at 9.15 am, will carry on till 3.30 pm. The floor price of the auction sale is at Rs 290 per share. The government is likely to raise Rs 12,405 crore at the floor price by offering 42.77 crore shares.
Experts are positive on the stock and see big upside potential. They feel the valuations are cheap. Tirthankar Patnaik, EVP - institutional sales, Religare Capital Markets is positive on the stock.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
