ONGC rises on inking MoU with NTPC Green Energy
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Oil and Natural Gas Corporation is currently trading at Rs. 188.15, up by 0.90 points or 0.48% from its previous closing of Rs. 187.25 on the BSE.
The scrip opened at Rs. 188.75 and has touched a high and low of Rs. 189.25 and Rs. 187.25 respectively. So far 171549 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 191.55 on 15-Sep-2023 and a 52 week low of Rs. 121.50 on 28-Sep-2022.
Last one week high and low of the scrip stood at Rs. 189.10 and Rs. 184.95 respectively. The current market cap of the company is Rs. 236697.95 crore.
The promoters holding in the company stood at 58.89%, while Institutions and Non-Institutions held 38.25% and 2.87% respectively.
Oil and Natural Gas Corporation (ONGC) has inked Memorandum of Understanding (MoU) with NTPC Green Energy (NGEL) to realize its Renewable energy objectives towards energy transition on September 27, 2023. The MoU will primarily explore the feasibility and setting up of Renewable Energy Projects in various domains.
The MoU envisages collaboration of the two mega entities in Renewable Power Projects in India and Overseas through offshore wind projects and exploring opportunities in the Storage, E-mobility, Carbon Credits and Green Credits, Nuclear, Green Hydrogen business and its derivatives (Green Ammonia and Green Methanol).
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.
