Oil India moves up on inking joint venture agreement with Assam Power Generation Corporation
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Oil India is currently trading at Rs. 378.85, up by 4.80 points or 1.28% from its previous closing of Rs. 374.05 on the BSE.
The scrip opened at Rs. 378.95 and has touched a high and low of Rs. 381.55 and Rs. 375.45 respectively. So far 28433 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 406.00 on 20-Dec-2023 and a 52 week low of Rs. 208.80 on 09-Jan-2023.
Last one week high and low of the scrip stood at Rs. 391.50 and Rs. 373.00 respectively. The current market cap of the company is Rs. 41082.69 crore.
The promoters holding in the company stood at 56.66%, while Institutions and Non-Institutions held 37.02% and 6.33% respectively.
Oil India has signed a Joint Venture Agreement (JVA) with Assam Power Generation Corporation (APGCL), a State Public Sector Enterprise of Assam, mainly responsible for maximizing energy generation to meet the energy demand and committed to achieve maximum renewable power generation in the state, on January 8, 2024 at Guwahati in order to boost India's efforts towards energy transition and for achieving the company's target for net zero by 2040. The company already established 188.1 MW of renewable energy plants across Rajasthan, Gujarat and Madhya Pradesh.
Oil India, a Navratna Company, is Asia's oldest and biggest pioneer oil exploration and Production Company.
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