The energy major's scrip settled at Rs 321.20, up 4.27 per cent from its previous close on the BSE Sensex. During the day, the stock rallied 4.51 per cent to Rs 321.95.
At the NSE Nifty, the scrip gained 4.37 per cent to close at Rs 321.35.
On the volume front, 3.25 lakh shares of the company changed hands on the BSE, while over 67 lakh shares were traded at the NSE during the day.
"A meeting of the Board of Directors of the company will be held on March 24, 2014, inter alia, to consider payment of second interim dividend for the financial year 2013-14," Oil & Natural Gas Corporation said in a BSE filing on March 4.
The company had said the record date for determining entitlement of shareholders for payment of second interim dividend for the financial year 2013-14 has been fixed on March 29, 2014.
Payment of interim dividend, if declared, shall start from March 31, 2014 onwards to the shareholders, it had noted.