Oil India signs MoU for hydrocarbon exploration; stock ends positively

Oil India Limited, the second-largest national exploration & production company announced on Tuesday that it has signed a memorandum of understanding (MoU) with Assam Hydrocarbon & Energy Company Limited in Guwahati, India.  

The above-mentioned MoU aims at establishing a joint institutional framework to facilitate the bilateral cooperation in hydrocarbon exploration, development & marketing of natural gas in the state of Assam.   

Speaking on the occasion, SC Mishra, CMD at Oil India Limited, reiterated the commitment of the company in furthering the hydrocarbon exploration and production activities in the state of Assam.   

On Tuesday, the stock of Oil India Limited closed at Rs 103 per share, up by 1.23 per cent or Rs 1.25 per share, against a 0.99 per cent gain in the benchmark index. The 52-week high was recorded at Rs 159.80 and the 52-week low was Rs 66 on BSE.