ONGC moves up as its arm, NGEL incorporate joint venture company
Oil & Natural Gas Corporation is currently trading at Rs. 251.70, up by 0.90 points or 0.36% from its previous closing of Rs. 250.80 on the BSE.
The scrip opened at Rs. 249.20 and has touched a high and low of Rs. 255.30 and Rs. 249.20 respectively. So far 503370 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 344.60 on 01-Aug-2024 and a 52 week low of Rs. 188.30 on 24-Nov-2023.
Last one week high and low of the scrip stood at Rs. 256.75 and Rs. 247.05 respectively. The current market cap of the company is Rs. 316834.33 crore.
The promoters holding in the company stood at 58.89%, while Institutions and Non-Institutions held 37.46% and 3.65% respectively.
Oil and Natural Gas Corporation’s (ONGC) wholly-owned subsidiary -- ONGC Green (OGL) and NTPC Green Energy (NGEL), a wholly-owned subsidiary of NTPC, have incorporated 50:50 Joint Venture Company in name of ONGC NTPC GREEN (ONGPL), on November 18, 2024.
ONGPL will be engaged in the business of exploring and setting up Renewable Energy (RE) projects and assets both through Greenfield development and acquisitions. ONGPL will also assess the feasibility and establishment of offshore wind projects, among other related activities.
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.
