Shares of Oil and Natural Gas Corporation Limited (ONGC) surged over 5 per cent to touch a 52-week high of Rs 184.75 on 1 September after Fitch Ratings affirmed a BBB- rating (stable outlook) for the state-owned oil marketing company. The rating shows that ONGC is considered to have a moderate level of credit worthiness. The business rating also shows that the future outlook for ONGC is stable.