Mumbai, October 7 (Udaipur Kiran): Shares of Oil India Limited (OIL) traded higher on Monday after the company announced the signing of a Memorandum of Understanding (MoU) with Mahanagar Gas Limited (MGL) to explore joint opportunities across the LNG value chain and emerging clean energy sectors.
The stock was trading at ₹422.65, up ₹3.05 or 0.73%, compared to its previous close of ₹419.60 on the BSE. The scrip opened at ₹422.50 and touched an intraday high of ₹428.35 and a low of ₹420.95. Around 99,375 shares were traded during the session.
The BSE Group ‘A’ stock, with a face value of ₹10, has a 52-week high of ₹594.15 (October 10, 2024) and a 52-week low of ₹322.15 (April 7, 2025). Over the past week, the stock traded between ₹428.35 and ₹406.80. The company’s market capitalisation currently stands at ₹69,561.88 crore.
In terms of shareholding, promoters hold 56.66%, institutional investors own 36.44%, and non-institutional investors account for 6.91%.
Under the MoU signed on October 6, 2025, Oil India and Mahanagar Gas will collaborate to explore opportunities across the Liquefied Natural Gas (LNG) ecosystem and other clean energy initiatives.
Oil India has an expansive hydrocarbon exploration and development programme and is working to ramp up gas production while advancing its clean energy roadmap. Meanwhile, Mahanagar Gas, which has already entered the LNG retail segment, continues to expand in sustainable energy solutions.
A Navratna public sector enterprise, Oil India is Asia’s oldest and largest pioneer in oil exploration and production, playing a vital role in India’s energy security.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.
