Maharatna Dividend Stock To Buy: Record Date Fixed, Shares Down 29% From 52-Week High

Oil and Natural Gas Corporation Ltd (ONGC) is all set to pay interim dividend and the board of directors of the Maharatna company has fixed record date for the interim dividend on Wednesday. In order to become eligible to receive the interim dividend, you need to buy the stock. Currently, the stock has fallen 28.8% from its 52-week high level. The large cap company operates in Gas & Petroleum sector.

Check key takeaways below pertaining to stock outlook and interim dividend, among others:

1. ONGC Fixed Record Date For Interim Dividend

The board of directors of Oil and Natural Gas Corporation Ltd stated in the regulatory filing, "This is in continuation of our communication dated 25.10.2022 & 28.10.2022 w.r.t. Intimation and rescheduling of Board meeting scheduled to be held on Monday, the 14.11.2022 . It was also stated that the Board may also consider declaration of Interim Dividend, if any, for the FY 2022-23. In terms of Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Tuesday, the 22.11.2022 will be the Record Date for determining eligibility of shareholders for payment of the said Interim Dividend, if any, declared by the Board of Directors."

The board of directors has fixed the record date as November 22, 2022.

2. ONGC Stock Outlook

The current market price of ONGC is Rs 138 apiece with 52-week high at Rs 194 apiece and 52-week low at Rs 119 apiece, respectively.

3. ONGC Market Capitalisation

The largest crude oil and natural gas company in India has a market capitalisation of Rs 1,73,859.46 crore.

4. ONGC Return

The stock has declined 27% in the last 5-years, 11% in last 1-year, and gained 3% in last 3-months.

5. ONGC About

Oil & Natural Gas Corporation (ONGC) is primarily engaged in exploration, development and production of crude oil and natural gas. ONGC's crude oil production has been in the range of 54-63% of total domestic oil production in FY11-21.

ONGC also has a play on refining sector via its subsidiaries. Maharatna ONGC has a unique distinction of being a company with in-house service capabilities in all areas of Exploration and Production of oil & gas and related oil-field services.

Disclaimer

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