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ONGC jumps over 3% on group restructuring plan 03/07/2018 11:27

Shares of Oil & Natural Gas Corporation (ONGC) jumped over 3 per cent on the Bombay Stock Exchange after the company said its board has given in-principle approval for evaluation of potential restructuring of ONGC group companies including the merger of subsidiaries MRPL and HPCL.

Boosted by the development, stocks of the company gained as much as 3.59 per cent and touched an intra-day high of Rs 161.45 apiece on the Bombay Stock Exchange.

In a similar trend, shares of the firm were trading 2.64 per cent higher at Rs 159.60 apiece on the National Stock Exchange.

Meanwhile, the broader benchmark BSE Sensex was trading at 35,396.27, up 131.86 points, or 0.37 per cent at 11:25 hours.

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