Mumbai, September 22 (Udaipur Kiran News): Shares of Oil India Ltd (OIL) gained on the BSE after the company signed a Joint Venture Agreement (JVA) with Rajasthan Rajya Vidyut Utpadan Nigam (RVUNL) to set up large-scale renewable projects in Rajasthan. The stock was trading at ₹410.15, up ₹6.00 or 1.48% from its previous close of ₹404.15.
The scrip opened at ₹404.55 and touched an intraday high of ₹412.00 and a low of ₹401.25. A total of 1,23,729 shares were traded during the session. On a weekly basis, the stock has moved between ₹412.00 and ₹393.00. Oil India’s market capitalisation currently stands at ₹66,821.05 crore.
Under the agreement, a Joint Venture Company (JVC) will be formed to develop 1.2 GW of renewable energy capacity, including 1,000 MW of solar and 200 MW of wind projects, within RVUNL’s Renewable Energy Park in Rajasthan.
The collaboration will leverage OIL’s expertise in the energy sector and RVUNL’s experience in power project development to deliver sustainable solutions. The JVC will focus on solar, wind, green hydrogen, and other renewable energy initiatives, providing clean power to DISCOMs and commercial customers.
As part of its green energy roadmap, Oil India has also set up a wholly owned subsidiary, OIL Green Energy Ltd (OGEL), to expand in renewables, compressed biogas (CBG), energy storage, and green hydrogen.
Oil India, a Navratna PSU, is Asia’s oldest and leading oil exploration and production company.
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.
Oil India Surges on JV with RVUNL for 1.2 GW Renewable Projects
