ONGC rises on getting nod to make investment of Rs 1,200 crore in ONGC Green
Oil & Natural Gas Corporation is currently trading at Rs. 235.90, up by 1.55 points or 0.66% from its previous closing of Rs. 234.35 on the BSE.
The scrip opened at Rs. 234.55 and has touched a high and low of Rs. 236.75 and Rs. 234.55 respectively. So far 105183 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. 225.35 on 17-Feb-2025.
Last one week high and low of the scrip stood at Rs. 243.00 and Rs. 234.00 respectively. The current market cap of the company is Rs. 295951.07 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 (ONGC) has received approval from Board of Directors for investment of Rs 1,200 crore in its wholly owned subsidiary --‘ONGC Green’ (OGL) through rights offer of equity shares.
In 2024, OGL had signed Share Purchase Agreement for acquisition of 100% equity stake of PTC Energy. OGL shall utilise the Rights Equity Share capital proceeds for investments in acquisition of 100% Equity stake of PTC Energy.
In addition, the Board of Directors of the Company has also accorded approval to provide replacement of Corporate Guarantee of Rs 75 crore on behalf of OGL in respect of PTC Energy. The Board of Directors of the Company at its meeting held on February 24, 2025, has inter-alia considered and approved the same.
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.
