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Oil & Gas Development Company Limited (OGDC) shares surged to a historic peak on Wednesday as the stock crossed the Rs. 300 mark and closed at an all-time high of Rs. 303.25 at the Pakistan Stock Exchange (PSX). The rally reflects strong investor confidence driven by expectations surrounding circular debt resolution in the energy sector.
OGDC’s stock gained Rs. 8.67, or 2.94 percent, during the session, making it one of the top-performing blue-chip stocks of the day.
According to market analysts at Topline Securities, OGDC’s recent price momentum is largely supported by positive developments related to the potential resolution of gas sector circular debt and the receipt of payments under the power sector circular debt settlement framework. These developments have improved liquidity expectations for energy companies, particularly exploration and production firms.
“The stock’s upward movement reflects improving cash flow visibility amid progress on circular debt settlements,” noted market observers.
OGDC is Pakistan’s largest exploration and production company, engaged in the discovery, development, and production of oil and gas resources across the country. Due to its heavyweight position on the PSX and consistent dividend profile, the stock is widely regarded as a barometer for the energy sector.
The latest rally underscores renewed investor interest in oil and gas stocks, as policy clarity and payments reduce long-standing financial pressures on the sector.
“OGDC shares displayed strong bullish momentum on the PSX trading board as the stock closed above Rs. 300 for the first time in history.”
