(ET)
Shares of Oil and Natural Gas Corporation advanced on Wednesday after reports that the state-run oil company will soon invite bids from oilfield service providers to enhance output from some of its ageing fields under a long-term contract.
Following the development, the stock advanced 1.75 per cent to Rs 174.20 on BSE. It opened at Rs 170.05 and touched an intraday high and low of Rs 174.90 and Rs 170.05 respectively. The winners will get a predetermined fee for existing and incremental production, company executives told ET.
