ONGC inches up on signing MoU with Greenko ZeroC

Oil & Natural Gas Corporation is currently trading at Rs. 128.80, up by 0.25 points or 0.19% from its previous closing of Rs. 128.55 on the BSE.

The scrip opened at Rs. 129.00 and has touched a high and low of Rs. 130.15 and Rs. 128.55 respectively. So far 18715 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 5 has touched a 52 week high of Rs. 194.60 on 08-Mar-2022 and a 52 week low of Rs. 108.50 on 20-Aug-2021.

Last one week high and low of the scrip stood at Rs. 133.90 and Rs. 127.75 respectively. The current market cap of the company is Rs. 161719.49 crore.

The promoters holding in the company stood at 58.89%, while Institutions and Non-Institutions held 27.80% and 13.31% respectively.

Oil and Natural Gas Corporation (ONGC) has signed a Memorandum of Understanding (MoU) with Greenko ZeroC (Greenko), to jointly pursue opportunities in Renewables, Green Hydrogen, Green Ammonia and other derivatives of green hydrogen. This MoU is in line with the National Hydrogen Mission launched by government in making India a global green hydrogen hub. The activities envisaged under this MoU will contribute towards India’s target of producing of 5 million tonnes of Green hydrogen per annum by 2030.

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.