Shares of Oil and Natural Gas Corporation (ONGC) was trading higher in the morning trade on Tuesday ahead of its financial results for the quarter ended June 30. The scrip was trading 0.92 per cent up at Rs 131.60, while the benchmark BSE Sensex was down 195 points, or 0.52 per cent, at 37,387 around the same time. ONGC is likely to report healthy performance owing to the rise in crude prices on a sequential basis coupled with rising gas production. However, declining gas production can be a slight negative. The average realisation is estimated at $67 per barrel for the quarter.
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