ONGC Gains Most in Year After Share Offering Is Deferred
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Oil & Natural Gas Corp., India’s largest energy explorer, gained the most in more than a year in Mumbai trading after the government delayed a plan to sell shares in the company.
ONGC climbed 5.4 percent to 274.70 rupees, the most since June 25, 2010. The benchmark Sensitive Index advanced 0.3 percent. The stake sale would have fetched 118 billion rupees ($2.5 billion) at current prices.