{"id":66626,"date":"2026-01-28T02:39:03","date_gmt":"2026-01-28T05:39:03","guid":{"rendered":"https:\/\/shipping.einnews.com\/article\/887142271"},"modified":"2026-01-28T02:39:03","modified_gmt":"2026-01-28T05:39:03","slug":"ongc-shares-surge-over-6-after-signing-shipbuilding-contracts-with-samsung","status":"publish","type":"post","link":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/2026\/01\/28\/ongc-shares-surge-over-6-after-signing-shipbuilding-contracts-with-samsung\/","title":{"rendered":"ONGC shares surge over 6% after signing shipbuilding contracts with Samsung"},"content":{"rendered":"
<\/div>\n

Oil and Natural Gas Corporation Limited shares jumped 6.42 per cent to \u20b9263.86 on the National Stock Exchange during Wednesday\u2019s trading session, following the announcement of shipbuilding contracts with Samsung Heavy Industries for two Very Large Ethane Carriers (VLECs). <\/p>\n

The state-run oil explorer, through its joint venture companies with Japan\u2019s Mitsui O.S.K. Lines (MOL), signed the contracts on Monday with South Korea\u2019s Samsung Heavy Industries for constructing two Indian-flag VLECs. The signing ceremony was attended by Petroleum Minister Hardeep Singh Puri and ONGC Chairman Arun Kumar Singh. <\/p>\n

ONGC and MOL have established two joint ventures\u2014Bharat Ethane One IFSC Pvt. Ltd. and Bharat Ethane Two IFSC Pvt. Ltd.\u2014at GIFT City, Gujarat, with each company set to own and operate one vessel. The carriers, each with a cargo capacity of one lakh cubic meters, will transport approximately 600 KTPA of ethane for OPaL, an ONGC subsidiary, from the United States to India. Delivery is scheduled for FY 2028-29. <\/p>\n

The stock opened at \u20b9249.20 against the previous close of \u20b9247.95 and touched an intraday high of \u20b9266.20, which also marked a new 52-week high. Trading volume was robust at 239.10 lakh shares, with a traded value of \u20b9624.35 crore. The counter witnessed higher selling pressure with 55.82 per cent sell orders against 44.18 per cent buy orders. <\/p>\n

The initiative aligns with the government\u2019s Maritime Amrit Kaal Vision-2047 and aims to strengthen India\u2019s energy supply chain resilience by creating dedicated shipping capacity for critical feedstock. This marks ONGC\u2019s strategic expansion into specialized marine energy logistics, reducing dependence on external shipping infrastructure. <\/p>\n

ONGC\u2019s total market capitalization stood at \u20b93,31,993.57 crore, with the stock trading at a price-to-earnings ratio of 7.35. <\/p>\n