Exxon Mobil Corporation, once the world’s biggest and the most profitable company, has fallen off the Dow Jones Industrial Average after years of under-performance. And its Indian counterpart, Oil and Natural Gas Corporation (ONGC), is faring no better and has been one of the worst-performing index stocks in recent years though it still remains part of the Nifty50, India’s most popular and traded index.
The BSE has, however, ejected ONGC from the Sensex. ONGC’s market capitalisation is down 65 per cent since the beginning of 2015 due to a combination of a ...
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