Reliance took a beating on the rankings as revenues dropped owing to the COVID-19 pandemic. This is its lowest ranking since 2017.
Also, the company reversed impairment losses, recording an exceptional gain of Rs 2,613 crore in the quarter.
The Nifty50 on the National Stock Exchange was trading at 15,870.75, higher by 124.25 points or 0.79 per cent from its previous close.
These resources actually belong to the nation and they will be monetised by bidding them out to interested entities, Petroleum Minister Dharmendra Pradhan said.
ONGC cannot absolve itself of the responsibility by simply pushing the blame on the contractor
India's crude oil production, however, slipped 2 per cent to 2.49 million tonnes as state-owned ONGC and Oil India Ltd (OIL) produced less.
The AFCONS-led consortium is working closely with ONGC, Petroleum Ministry, Indian Navy, Coast Guard, and DG (Shipping) to coordinate the rescue efforts.
This essentially means that bidders may corner gas by offering to pay USD 7, but the buyers will have to pay no more than the ceiling price of USD 3.62.
Three employees of the ONGC were on April 21 kidnapped by suspected ULFA-I militants from its Lakwa oilfield in Assam's Sivasagar district along the Assam-Nagaland border.
Whereabouts of the kidnapped employees were not known and kidnappers have not made any contact with the family or the company so far, a source in ONGC said.
MEIL has bagged the order to manufacture and supply 47 drilling rigs worth Rs 6,000 crore via a tender from ONGC in 2019.
Bajaj Auto was the top loser in the Sensex pack, falling around 3 per cent, followed by Maruti, ICICI Bank, Sun Pharma and Reliance Industries
Likewise, the NSE barometer Nifty settled with a gain of 232.40 points or 1.60 per cent at 14,761.55.
ONGC was the top gainer, rallying around 8 per cent. NTPC, Asian Paints, Tech Mahindra, PowerGrid and IndusInd Bank were among the other winners.
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