ONGC Closes Over 1% Higher On Rerating Hopes

Mumbai, May 21: | Updated: May 22 2003, 05:30am hrs
The stock of ONGC rallied over per cent to hit a 52-week high on Wednesday on hopes that the entire energy sectors fortunes will get rerated in the current fiscal and on shift in investors focus from software to old-economy and state-run companies.

On The Stock Exchange, Mumbai (BSE), the ONGC stock rallied by Rs 4.60 to close at Rs 423.10, off its one-year high of Rs 427 hit in afternoon trades.