Market Talk

ONGC further loses ground
Mumbai Jul 27, 2009 12:46
The company posted a net profit of Rs48.479bn for the quarter ended June 30, 2009 as compared to Rs66.363bn. Shares of ONGC have further lost ground on the back of disappointing quarterly results. The stock is down 2% to Rs1103, it had opened at Rs1140 and made an intra-day high of Rs1158 and a low of Rs1097. Total traded volumes stood at 0.7mn shares.
The company posted a net profit of Rs48.479bn for the quarter ended June 30, 2009 as compared to Rs66.363bn for the quarter ended June 30, 2008, posting a decline of 27% YoY.
The total income has decreased from Rs211bn for the quarter ended June 30, 2008 to Rs159.2bn for the quarter ended June 30, 2009.