Oil India rises on securing 9 blocks under OALP IX
Oil India is currently trading at Rs. 369.90, up by 3.50 points or 0.96% from its previous closing of Rs. 366.40 on the BSE.
The scrip opened at Rs. 369.05 and has touched a high and low of Rs. 374.85 and Rs. 368.80 respectively. So far 44412 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 767.30 on 30-Aug-2024 and a 52 week low of Rs. 322.15 on 07-Apr-2025.
Last one week high and low of the scrip stood at Rs. 379.90 and Rs. 351.40 respectively. The current market cap of the company is Rs. 60705.00 crore.
The promoters holding in the company stood at 56.66%, while Institutions and Non-Institutions held 36.54% and 6.80% respectively.
Oil India has secured 9 blocks under OALP Round IX, adding over 51,000 Sq.km to its exploration portfolio, with 6 blocks as sole operator and 3 as consortium partner. This milestone propels the company’s total exploration acreage from 60,000 Sq.km to 110,000 Sq.km, registering a remarkable 85% growth. Significantly, the company had submitted bids for 9 blocks and won all 9, achieving a 100% strike rate, underscoring the company’s strategic focus, technical strength, and competitive edge.
This bold expansion is a clear reflection of the company’s strategic vision and strong alignment with India’s energy priorities. Notably, over 47,000 Sq.km of the newly awarded acreage lies in deep and ultradeep offshore waters, marking a breakthrough as Oil India takes on technically complex and high-potential frontiers. Oil India has also made its debut in the Cambay Basin and the state of Meghalaya, unlocking fresh opportunities in untapped geological provinces.
Oil India, a Navratna Company, is Asia's oldest and biggest pioneer oil exploration and Production Company.
