ONGC Surges 6.6% as Govt Slashes Crude Oil Royalty Rates
Shares of Oil and Natural Gas Corporation Limited climbed to a day high of Rs 299.30 on NSE on 12 May, rising 6.60% intraday, after the Ministry of Petroleum and Natural Gas notified revised royalty rates on crude oil and natural gas production that directly cut costs for India’s state-run upstream producers. The notification, issued…