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    ONGC   INE213A01029

OIL AND NATURAL GAS CORPORATION LIMITED

(ONGC)
  Report
Delayed NSE India Stock Exchange  -  07:27 2022-09-30 am EDT
126.80 INR   +0.12%
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Oil and Natural Gas : ONGC to make Green Hydrogen; inks MoU with India's leading renewable energy Company Greenko ZeroC

07/26/2022 | 10:39am EDT

Energy major Oil and Natural Gas Corporation Limited (ONGC) has signed a Memorandum of Understanding (MoU) with M/s Greenko ZeroC Private Limited (Greenko), to jointly pursue opportunities in Renewables, Green Hydrogen, Green Ammonia and other derivatives of green hydrogen.

MoU documents being exchanged

The MoU, valid for two years, was inked on 26 July 2022 in New-Delhi by ONGC Director Onshore Shri Anurag Sharma and Greenko CEO & Managing Director Shri Anil Kumar Chalamalasetty, in the presence of Union Minister of Petroleum and Natural Gas & Urban Affairs Shri Hardeep Singh Puri, Secretary (MoP&NG) Shri Pankaj Jain, ONGC CMD Dr. Alka Mittal, along with ONGC Director (Finance) Ms Pomila Jaspal, other senior officials from MoP&NG, ONGC and Greenko. Greenko is one of India's leading renewable energy Companies.

One for the album

This MoU is in line with the National Hydrogen Mission launched by Hon'ble Prime Minister in making India a global green hydrogen hub. The activities envisaged under this MoU will contribute towards India's target of producing of 5 million tonnes of Green hydrogen per annum by 2030.

Notes to the Editors:

This MoU will also act as a stepping stone for ONGC to achieve renewable energy targets as per its Energy Strategy 2040. As the share of renewables in the energy mix is rising driven by cost competitiveness, climate change awareness and strong regulatory push, ONGC aims to meet its objectives such as de-risking of portfolio against long term disruptions and reducing carbon footprint by moving into renewables space.

Issued By:
Oil and Natural Gas Corporation Ltd
Corporate Communications, New Delhi,
Phone: +91-11-26754013
Mail: ongcdelhicc@ongc.co.in

Disclaimer

ONGC - Oil & Natural Gas Corporation Limited published this content on 26 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 July 2022 14:38:03 UTC.


© Publicnow 2022
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Financials
Sales 2023 6 250 B 76 802 M 76 802 M
Net income 2023 492 B 6 052 M 6 052 M
Net Debt 2023 770 B 9 459 M 9 459 M
P/E ratio 2023 3,21x
Yield 2023 10,8%
Capitalization 1 595 B 19 603 M 19 603 M
EV / Sales 2023 0,38x
EV / Sales 2024 0,39x
Nbr of Employees 27 165
Free-Float 29,6%
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Technical analysis trends OIL AND NATURAL GAS CORPORATION LIMITED
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 23
Last Close Price 126,80 INR
Average target price 171,32 INR
Spread / Average Target 35,1%
EPS Revisions
Managers and Directors
Rajesh Kumar Srivastava Chairman & Managing Director
Pomila Jaspal Chief Financial Officer & Finance Director
Om Prakash Singh Director, Director-Technical & Field Services
Rajni Kant Secretary & Compliance Officer
V. Ajit Kumar Raju Independent Director
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