Mid-day Movers: ONGC, PNB Housing Finance and Graphite India are the BSE top gainers!

Despite a weak market, shares of ONGC Ltd, PNB Housing Finance Ltd and Graphite India have rallied in today’s trading session.

While markets opened with deep cuts, as of noon, BSE Sensex has declined by 2.26 per cent.  

ONGC Ltd. gained more than 4 per cent 

ONGC is the largest crude oil and natural gas company in India, contributing around 71 per cent to Indian domestic production. The share has rallied more than 4 per cent in the first half of today's trading session and it has gained more than 9 per cent in last 5 trading sessions. Exxon Mobil Corp’s decision to exit Russia has put India’s flagship overseas firm ONGC Videsh in a fix as it is a partner in the global energy giant-operated Sakhalin-1 oil fields in far East Russia. 

PNB Housing Finance Ltd jumps more than 4 per cent 

PNB Housing Finance offers retail customers housing and non-housing loans, including individual home loans, loans against property, non-resident property loans, among others. The share price jumped 4.74 per cent as the firm announces capital raising plans. After a failed attempt to raise Rs 4,000 crore by selling a share to Carlyle Group last year, the mortgage lender's board of directors is expected to decide on raising money, perhaps through a rights issue. 

Graphite India Limited ascends more than 3 per cent 

Graphite India Limited (GIL) is the pioneer in India for the manufacture of graphite electrodes as well as carbon and graphite speciality products. The share price is increased by 3.93 per cent in the first half of today's trading session. The company is in uptrend from last 5 trading sessions and it has gained more than 10 per cent in the same period.