Oil India surges on signing mining pact with Assam government
Oil India is currently trading at Rs. 232.60, up by 4.70 points or 2.06% from its previous closing of Rs. 227.90 on the BSE.
The scrip opened at Rs. 228.10 and has touched a high and low of Rs. 233.85 and Rs. 228.10 respectively. So far 75981 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 267.70 on 01-Oct-2021 and a 52 week low of Rs. 112.00 on 12-Apr-2021.
Last one week high and low of the scrip stood at Rs. 239.00 and Rs. 224.30 respectively. The current market cap of the company is Rs. 25201.58 crore.
The promoters holding in the company stood at 56.66%, while Institutions and Non-Institutions held 28.02% and 15.33% respectively.
Assam government has signed a mining pact with PSU major Oil India for exploration and extraction of petroleum products in eight blocks, yielding an annual royalty of around Rs 2,000 crore. The 8 PML (Petroleum Mining Lease) blocks are Dibrugarh, Dibrugarh Extension, Hugrijan Extension, Borhapjan, Borhat, Moran, Dumduma Extension and Mechaki Extension.
Oil India, a Navratna Company, is Asia's oldest and biggest pioneer oil exploration and Production Company.
