India's largest state run oil and natural gas company (ONGC) recently declared great dividends for its shareholders and also went in for a stock split as it will be coming with a follow on public offer.

Recently the company has also decided to increase the stake of its holding in Pawan Hans Helicopters.

ONGC, India’s largest oil and natural gas Company owned majorly by the government of India, was in news recently for its announcements on the stocks of the company.

ONGC has claimed of having pre-emptive rights to the Cairn-ONGC's Rajasthan fields, for which the petroleum ministry is not likely to give approval on.

The ministry has sought for a legal opinion on the issue of ignoring the pre emptive rights of ONGC, it also has on hands the decision of the 60 percent stake of Vedanta in Cairn India, and while if certain sources were to be believed both of them seem to be unlikely.

Oil and Natural Gas Corp, the state-owned company saw a rise of two percent in the early businesses on the Bombay Stock Exchange as a result of a couple of gas and oil discoveries made by the firm yesterday in the basins of Cambay and Krishna-Godavari.