ONGC wins Asiamoney Award

Oil and Natural Gas Corporation has been awarded 'Best Deals of the Year 2004' trophy by Asiamoney, Asia's leading capital markets publication.

The award was given in recognition of the successful placement of Rs 10,694 crore (Rs 106.94 billion) worth of secondary shares, a release said.

At an exclusive award presentation function held in Mumbai, the trophy was received by ONGC chairman and managing director Subir Raha and director (finance) R S Sharma.

It was for the first time that the awards show was held in India. Asiamoney editor Chris Cockerill, while presenting the award, complimented ONGC for exemplary financial management systems.