Oil India Ltd to invest Rs. 1738 crores in JV company Assam Gas Company Ltd

The Board of Directors of Oil India Ltd at its meeting held today i.e. on Monday, 04th September, 2023, has accorded its approval for equity contribution of upto Rs. 1738 Crore by Oil lndia Limited (OUL) in line with OIL's shareholding percentage (49%) in the Joint Venture Company (JVC) with Assam Gas Company Limited (AGCL) (51%) viz. 'North East Gas Distribution Company Limited (NEGDCL)' [a State Govt. Company], incorporated for executing the City Gas Distribution (CGD) projects.

Shares of Oil India Limited was last trading in BSE at Rs. 272.45 as compared to the previous close of Rs. 273.20. The total number of shares traded during the day was 178004 in over 3224 trades.

The stock hit an intraday high of Rs. 284.45 and intraday low of 269.60. The net turnover during the day was Rs. 49212643.00.

Source : Equity Bulls

Keywords

OilIndia INE274J01014 Investment AssamGasCompany