08 Aug 2025

Oil India Shares Edge Higher; Signs MoU with IREL for Critical Minerals Development

Oil India is currently trading at RS 435.35, up by 3.25 points or 0.75% from its previous closing of RS 432.10 on the BSE.

The stock opened at RS 429.50 and touched a high of RS 435.35 and a low of RS 429.50 so far. A total of 14,755 shares have been traded on the counter.

A BSE group 'A' stock with a face value of RS 10, Oil India recorded a 52-week high of RS 767.30 on August 30, 2024, and a 52-week low of RS 322.15 on April 7, 2025. Over the past week, the stock traded between RS 437.95 and RS 420.00. The company's current market capitalization stands at RS 70,440.25 crore.

Promoters hold 56.66% of the company's shares, while institutions and non-institutions hold 36.44% and 6.91%, respectively.

On August 7, 2025, Oil India (OIL) signed a Memorandum of Understanding (MoU) with IREL (India) in Mumbai to cooperate on the development of critical minerals. OIL, a Maharatna PSU under the Ministry of Petroleum & Natural Gas, is a leading integrated oil and gas company with expertise in exploration, development, production, and transportation of crude oil and natural gas.

Recognizing the rising importance of critical minerals, OIL has expanded into this sector alongside its oil and gas operations. IREL, a Miniratna PSU under the Department of Atomic Energy, specializes in mining and processing mineral sands, including extraction and refining of rare earth elements.

This strategic partnership is a significant step towards India’s self-reliance in critical minerals and rare earth elements. As part of the National Critical Mineral Mission, this collaboration will help secure vital resources for the nation’s energy security and technological progress.

Oil India, a Navratna company, holds the distinction of being Asia’s oldest and largest pioneer in oil exploration and production.