Oil & Natural Gas Corporation
251.56
+1.20(+0.48%)
Market Cap₹3,16,469.50 Cr
PE Ratio8.67
IndustryOil & Gas
Company Performance:
1D+0.48%
1M+2.02%
6M+4.01%
1Y-7.36%
5Y+193.36%
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More news about Oil & Natural Gas Corporation
08May 25
ONGC Refutes Mumbai High Tender Cancellation Reports, Affirms BP Partnership
ONGC has refuted reports suggesting the cancellation of the Mumbai High tender and confirmed that its partnership with BP for the Mumbai High field remains intact. This clarification addresses recent market speculations and reassures stakeholders about the continuity of operations and international collaborations in one of India's largest offshore oil fields.
17Apr 25
Reliance Industries May Benefit from Potential Tax Cuts on US Ethane and LPG Imports
The Indian government is contemplating the removal of import taxes on ethane and LPG from the United States. This potential policy change could significantly benefit major petrochemical companies like Reliance Industries Limited (RIL), which imports ethane for its crackers in Gujarat and Maharashtra. The move aims to diversify energy sources and reduce costs. If implemented, it could enhance the competitiveness of Indian petrochemical products globally, encourage increased imports from the US, and potentially lead to industry expansion.
25Mar 25
ONGC Unveils Ambitious Green Energy and International Expansion Plans
ONGC has approved a ₹3,300 crore investment in its subsidiary ONGC Green Limited for renewable energy expansion. This includes acquiring Ayana Renewable Power through a joint venture. Internationally, ONGC plans to invest up to ₹1,500 crore in Mozambique's Beas Rovuma Energy project and provide a USD 379.30 million loan for the Area 1 Mozambique Project. The company also announced key management changes.
11Mar 25
ONGC-NTPC Joint Venture Gets CCI Nod for Ayana Renewable Power Acquisition
The Competition Commission of India (CCI) has approved the acquisition of Ayana Renewable Power Private Limited by ONGC NTPC Green Private Limited, a joint venture between Oil and Natural Gas Corporation (ONGC) and NTPC Limited. This strategic move marks a significant expansion into the renewable energy sector for both state-owned energy giants. The acquisition is expected to enhance their renewable energy capabilities and contribute to India's clean energy goals.
07Mar 25
ONGC Petro Additions Exits Dahej SEZ as ONGC Appoints New Director of Technology and Field Services
ONGC Petro Additions has been granted exit from Dahej Special Economic Zone, transitioning to a Domestic Tariff Area unit. Separately, Shri Vikram Saxena, with over 35 years of E&P experience, has been appointed as ONGC's new Director of Technology and Field Services, effective March 6, 2025, until his superannuation on July 31, 2027.
04Mar 25
ONGC Green Expands Renewable Portfolio with ₹925 Crore Acquisition of PTC Energy
ONGC Green Limited, a subsidiary of Oil and Natural Gas Corporation (ONGC), has acquired 100% stake in PTC Energy Limited for ₹925 crore. PTC Energy operates 288.80 MW of wind energy capacity across seven locations in India. This acquisition aligns with ONGC's goal to achieve a 10 GW renewable energy portfolio by 2030 and net-zero emissions by 2038. The deal involves the purchase of 654,117,494 equity shares and is subject to post-closing adjustments. PTC Energy's turnover has shown steady growth, reaching ₹322.49 crore in FY'24.
24Feb 25
ONGC Unveils ₹1,200 Crore Investment in Green Subsidiary and Strategic Acquisition Plans
ONGC's board approved a ₹1,200 crore investment in its subsidiary ONGC Green Limited through a rights issue. The funds will be used to acquire 100% of PTC Energy Limited. ONGC also approved a ₹75 crore corporate guarantee for the acquisition. These moves signify ONGC's commitment to expanding its renewable energy portfolio and diversifying its operations.
1 Year Returns:-7.36%
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