ONGC has been in news recently for its announcement of first public offering, the meeting for which is going to take place on Dec 16. The meeting will also see the officials considering stock splits, bonuses and special dividends.

The split will be making the stock attractive for the small investors as well. The stock has been holding up quite well due to this news even in the falling market.

The stock saw an intraday high and low of Rs 1,329.95, 1,317.70 respectively today. The company is high on spirits and looking for expansion as it eyes a 25% stake in the US energy giant Exxon.

It is planning to bid for block 31 in Angola. The block is estimated to produce 1,50,000 barrels of crude/day. ONGC is a state owned firm and by its arm ONGC Videsh, it is planning to get a stake in deep-sea oil block in Angola.

The company is upbeat by this new stake news and investors can look in for some special surprises in the near future.