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Oil India rises on inking pact with AGCL, GGL to set up CGD Company in Assam

Oil India is currently trading at Rs. 175.15, up by 0.90 points or 0.52% from its previous closing of Rs. 174.25 on the BSE.

The scrip opened at Rs. 174.00 and has touched a high and low of Rs. 175.70 and Rs. 173.00 respectively. So far 27771 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 227.00 on 24-Sep-2018 and a 52 week low of Rs. 165.45 on 08-Jul-2019.

Last one week high and low of the scrip stood at Rs. 179.20 and Rs. 165.45 respectively. The current market cap of the company is Rs. 18846.96 crore.

The promoters holding in the company stood at 61.61%, while Institutions and Non-Institutions held 22.23% and 16.15% respectively.

Oil India, Assam Gas Company (AGCL) and GAIL Gas (GGL) have entered into an agreement to set up a new company for implementation of the City Gas Distribution (CGD) network in five districts of Assam.

The joint venture company will implement the CGD Network and supply piped natural gas to the domestic, commercial and industrial customers and CNG (Compressed Natural Gas) to the vehicles in Kamrup, Kamrup (Metro), Cachar, Hailakandi and Karimganj districts.

Oil India, a Navratna Company, is Asia's oldest and biggest pioneer oil exploration and Production Company.

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