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2025-03-05 11:49:47 am | Source: Accord Fintech
ONGC rises as its arm acquires 100% equity stake in PTC Energy
ONGC rises as its arm acquires 100% equity stake in PTC Energy

Oil & Natural Gas Corporation is currently trading at Rs. 229.80, up by 2.95 points or 1.30% from its previous closing of Rs. 226.85 on the BSE.

The scrip opened at Rs. 228.25 and has touched a high and low of Rs. 230.10 and Rs. 226.75 respectively. So far 188074 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. 215.20 on 04-Mar-2025.

Last one week high and low of the scrip stood at Rs. 233.90 and Rs. 215.20 respectively. The current market cap of the company is Rs. 287962.59 crore.

The promoters holding in the company stood at 58.89%, while Institutions and Non-Institutions held 37.24% and 3.87% respectively.

Oil & Natural Gas Corporation’s (ONGC) wholly owned subsidiary -- ONGC Green (OGL) has acquired 100% equity stake in PTC Energy (PEL). PEL is engaged in Renewable Energy Business, it has an aggregate operational wind generation capacity of 288.80 MW located at 7 locations at Andhra Pradesh, Madhya Pradesh and Karnataka. It operates 157 Wind Turbine Generators (WTGs) across all its wind farms.

Through the acquisition, the company will scale up its investments in the renewable energy sector to achieve its objectives of de-risking its portfolio against long-term disruptions and reducing its carbon footprint by making strategic investments in the energy transition space. OGL has been taking various initiatives to achieve 10 GW renewable energy portfolio for ONGC by 2030 and net zero target (Scope 1 and Scope 2) by 2038.

Further, the company has been allotted 120,00,00,000 equity shares of Rs 10 each by ONGC Green by way of subscription on right basis.

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.

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