Centre to add Rs 10,501 crore into ONGC Petro Additions
The infusion of Rs 10,501 crore in OPaL will be carried out in one or more tranches.
The board of directors of Oil and Natural Gas Corp. has approved the Government of India's decision to infuse an additional Rs 10,501 crore in ONGC Petro Additions Ltd.
This includes compulsorily convertible debentures at Rs 7,778 crore and a remaining payment of Rs 86 crore for share warrants, amounting to a total of Rs 18,365 crore, according to an exchange filing on Wednesday.
The infusion of Rs 10,501 crore in OPaL will be carried out in one or more tranches.
Read Also : Bank of Baroda - India’s second largest public bank, adopts ‘Make in India’ Switches to upgrade its banking infraAlso, the board of directors has approved the appointment of Arunangshu Sarkar, director (strategy and corporate affairs), as a key managerial personnel of the company, the filing said.
Shares of ONGC closed 0.30% lower at Rs 298.55 apiece, compared to a 0.25% rise in the benchmark Nifty 50. The stock had risen 61.02% in the last 12 months and 45.67% year-to-date. The relative strength index was 45.58.
Read Also : Bank of India enters into an MOU to provide salary account facilities for Coal India Limited employeesNews Must Read
- Garden Reach Shipbuilders receives LoA from Government of West Bengal
- Bank of Baroda Q2 business update: Domestic deposits up by 7%, global business expands 10.23%
- NTPC Unchahar Head of Project Conquers Everest Base Camp
- PM Narendra Modi inaugurates GAIL’s CBG Plant in Ranchi
- SBI to add 600 branches in its network during FY25: Chairman C S Setty
- Power Grid signs SHA with RVPN to form JV in Rajasthan
- NHPC CMD highlights critical importance of dams in India's water management
- NTPC Mining delivers stellar performance in Half Yearly of FY2024-25
- HAL Delivers First AL-31FP Aero Engine to IAF Under New Contract
- HAL’s Advanced Light Helicopter all set for ONGC Offshore Missions