ONGC approves formation of JVs to set up 15 CBG Plants

The Board of Directors of Oil and Natural Gas Corporation Ltd at its meeting held today i.e. 20.02.2024, have, considered and accorded in-principle approval for formation of Joint Venture companies (JVs) either by ONGC or through its subsidiary(ies) / associates to set up and operate 15 CBG Plants, subject to requisite approval(s).

The Board also accorded, in-principle, approval for the said purpose by formation of 50:50 Joint Ventures by ONGC or by its subsidiary(ies)/ associates separately with below-mentioned companies with seed equity contribution upto ₹10 crore for each JV:

i. SFC Environmental Technologies Pvt. Ltd; and
ii. EverEnviro Resource Management Pvt. Ltd.

Shares of Oil & Natural Gas Corporation Limited was last trading in BSE at Rs. 276.65 as compared to the previous close of Rs. 274.70. The total number of shares traded during the day was 1232730 in over 14703 trades.

The stock hit an intraday high of Rs. 281.05 and intraday low of 274.10. The net turnover during the day was Rs. 341464098.00.

Source : Equity Bulls

Keywords

OilandNaturalGasCorporation INE213A01029 ONGC JVs 15CBGPlants