Oil and Natural Gas Corporation acquires 5% stake in Indian Gas Exchange

ONGC LOGO

Oil and Natural Gas Corporation acquired a 5 per cent stake in Indian Gas Exchange (IGX), joining the likes of Adani Total Gas, Torrent Gas and GAIL in the nation’s first gas exchange. The Indian Gas Exchange is a subsidiary of the IEX- India’s premier nationwide, automated electricity trading platform.

also read : YES BANK CRISIS : SBI MAY PICK UP-TO 49% STAKES, INVEST AT LEAST RS. 2450 CRORE

ONGC signed a Share Purchase and Shareholders Agreement (SPSHA) with the Indian Gas Exchange (IGX) and the Indian Energy Exchange (IEX) in the presence of Oil Secretary Tarun Kapoor and ONGC head Shashi Shanker. Mr. Shanker said ONGC is aligned to the government’s vision of increasing the share of gas in the energy mix to 15 per cent by 2030 from the current 6.2 per cent.

Earlier this year, the IEX announced the strategic investments of 5 per cent each by leading players in the gas value chain – Adani Total Gas, Torrent Gas and GAIL (India) Ltd in IGX.

 

S&P BSE SENSEX  ^BSESN 
₹ 48,544.06  ₹ 660.68  1.38%  
NIFTY 50  ^NSEI 
₹ 14,504.80  ₹ 194.00  1.36%  
NIFTY BANK  ^NSEBANK 
₹ 31,771.60  ₹ 979.60  3.18%  
USD/INR  INR=X 
₹ 75.26  ₹ 0.2800  0.37%  
Today is last Date of GSTR-1 GST TAXPAYERS WHO ARE UNDER QRMP SCHEME? Auto-population of e-invoice details into GSTR-1 trial ITR 1 and 4 Utilities for has been available for E-filing for the Assessment year 2021-2022 Accounting Software with Audit Trail Just In:- CBDT Issue clarification Knowledge is Power! Latest Post