Introduction:
PSU stock has acquired a 100% stake in a renewable energy firm for ₹925 crore, adding 288.80 MW of wind power. This move supports its goal of a 10 GW renewable portfolio by 2030 and net zero emissions by 2038, reinforcing its clean energy transition.
Share Price movement of Oil and Natural Gas Corporation:
On March 5, 2025, Oil & Natural Gas Corporation Limited opened at ₹227.12, reaching a high of ₹230.24, up 1.49% from its previous close of ₹226.76, and a low of ₹226.76. Currently, the stock is trading at ₹230.13, with a market cap of ₹2,89,610.61 crore.
Oil and Natural Gas Corporation new acquisition:
ONGC Green Limited, a wholly owned subsidiary of ONGC, has acquired a 100% stake in PTC Energy Limited for ₹925 crore. PTC Energy operates 288.80 MW of wind power across seven locations in Andhra Pradesh, Madhya Pradesh, and Karnataka, with 157 Wind Turbine Generators.
This acquisition aligns with ONGC’s goal of scaling up its renewable energy investments, aiming for a 10 GW portfolio by 2030 and achieving net zero emissions (Scope 1 and 2) by 2038. It enhances ONGC’s energy transition strategy, reducing carbon footprint and diversifying its business.
Additionally, ONGC Green Limited received 120 crore equity shares of ₹10 each through a rights issue. This investment strengthens ONGC’s renewable energy expansion, reinforcing its commitment to sustainability while leveraging wind energy to support India’s long-term clean energy goals.
Stock performance of Oil and Natural Gas Corporation for Period of 1 week, 6 months and 1 year:
Oil and Natural Gas Corporation’s stock declined by 2.68% over the past week, reflecting short-term weakness. Over six months, it dropped 26.6%, indicating a prolonged downturn. In the past year, the stock fell 20.1%, showcasing a challenging phase despite its long-term market presence.
Also Read: Infra stock hits 5% upper circuit after receiving LoA from NHPC for 1200Mw solar projects
Shareholding pattern of Oil and Natural Gas Corporation:
| All values in % | Dec-24 | Sep-24 | Jun-24 |
| Promoters | 58.89 | 58.89 | 58.89 |
| FII | 7.53 | 8.12 | 8.57 |
| DII | 19.4 | 19.04 | 18.75 |
| Retail & others | 14.18 | 13.95 | 13.8 |
About Oil and Natural Gas Corporation :
Oil and Natural Gas Corporation (ONGC) is India’s leading oil and gas exploration company, engaged in upstream and downstream energy operations. It plays a key role in India’s energy sector, expanding into renewables while ensuring energy security through sustainable and efficient resource management.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
