ONGC rises on planning to invest Rs 1 lakh crore by 2030 on energy transition projects
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Oil & Natural Gas Corporation is currently trading at Rs. 161.00, up by 2.10 points or 1.32% from its previous closing of Rs. 158.90 on the BSE.
The scrip opened at Rs. 159.30 and has touched a high and low of Rs. 161.65 and Rs. 159.30 respectively. So far 188766 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 168.95 on 12-May-2023 and a 52 week low of Rs. 119.80 on 06-Jul-2022.
Last one week high and low of the scrip stood at Rs. 167.50 and Rs. 156.50 respectively. The current market cap of the company is Rs. 203045.71 crore.
The promoters holding in the company stood at 58.89%, while Institutions and Non-Institutions held 38.15% and 2.95% respectively.
Oil and Natural Gas Corporation (ONGC) is planning to invest Rs 1 lakh crore by 2030 on energy transition projects as it targets net zero carbon emissions by 2038. The company is planning to scale up electricity generation from renewable sources from 189 MW to 1 GW by 2030.
It already has 5 GW of project planned in Rajasthan and is scouting for a similar capacity, and ONGC would also look at offshore wind farms. It is also looking at setting up a 1 million tonne per annum green ammonia plant at Mangalore.
ONGC is India’s largest government-run corporation and produces about 70% of India’s crude oil and natural gas. The corporation is the biggest public sector commercial organization in India.
