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Oil & Natural Gas Corporation (ONGC) on 18 September 2026 struck gas at deepwater well MN-DW18-1-H-D in the Mahanadi Offshore Basin, off the Odisha coast, under the Samudra Manthan initiative. The well drilled to a target depth (TD) of 1,623 metres recorded the gas strike at 1,441–1,452 metre interval.
The well is located approximately 43 km off Konark and is the first well in the Mahanadi Basin under the campaign. Its relative proximity to the coast offers potential for early monetisation, subject to further appraisal, and commercial evaluation.
IRB Infrastructure Developers Ltd rose 3.46% today to trade at Rs 19.73. The BSE India Infrastructure index is up 0.36% to quote at 568.81. The index is down 1.94 % over last one month. Among the other constituents of the index, Oil & Natural Gas Corpn Ltd increased 1.5% and Oil India Ltd added 1.4% on the day. The BSE India Infrastructure index went down 1.15 % over last one year compared to the 8.21% fall in benchmark SENSEX.
IRB Infrastructure Developers Ltd has added 0.92% over last one month compared to 1.94% fall in BSE India Infrastructure index and 4.37% drop in the SENSEX. On the BSE, 3.31 lakh shares were traded in the counter so far compared with average daily volumes of 8.5 lakh shares in the past one month. The stock hit a record high of Rs 23.94 on 21 May 2026. The stock hit a 52-week low of Rs 18.5 on 02 Mar 2026.