President of India-Backed Oil Exploration Company Signs MoU with CSIR-IMMT

Om DSIJ/ 01 Apr 2026 /Categories: Mindshare, Trending

President of India-Backed Oil Exploration Company Signs MoU with CSIR-IMMT

Oil India signs MoU with CSIR-IMMT to collaborate on critical minerals R&D under India’s National Critical Mineral Mission framework.

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On Wednesday, shares of Oil India remained in focus after the company announced a strategic development in the critical minerals space. The stock was trading at Rs 472.8 as of April 1, 2026, 3:20 PM, compared to the previous close of Rs 475.35, declining by 0.54 per cent.

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Oil India and CSIR- IMMT signs MoU to pursue joint Research in Critical Minerals

Oil India has signed a memorandum of understanding with CSIR-Institute of Minerals and Materials Technology (IMMT) to jointly pursue research and development projects in the critical minerals space, aligning with India’s National Critical Mineral Mission (NCMM).

The agreement, signed on March 30, 2026, brings together OIL, a Maharatna public sector enterprise, and CSIR-IMMT, which has been identified as the Centre of Excellence for Critical Minerals under the national mission. The collaboration will focus on advancing R&D initiatives in critical minerals as envisaged under the NCMM framework.

The MoU was signed by OIL’s Director (Exploration & Development) and the Director of CSIR-IMMT in the presence of OIL’s Chairman and Managing Director, along with functional directors, senior officials from OIL and scientists from CSIR-IMMT.

According to the company, the partnership is expected to support research and development activities in the critical minerals segment, in line with the objectives of the national mission. It also aligns OIL’s strategic initiatives with the government’s focus on strengthening technological capabilities in the sector.

About Oil India

Oil India Limited, incorporated in 1959, is an integrated energy company with operations spanning crude oil, natural gas, petroleum products, LPG, pipeline transportation and renewable energy. The company operates across key Indian states and offshore areas, with overseas interests in Russia, Venezuela and Mozambique, and has five subsidiaries.The President of India holds a 72.84 per cent stake in the company.

The company has a market capitalisation of Rs 77,044 crore and a book value of Rs 346 per share. It has been maintaining a dividend payout of 26.1 per cent. In terms of stock performance, the share has delivered returns of 23.04 per cent over one year, 18.82 per cent over two years, and 183.34 per cent over three years. The stock has traded within a 52-week range of Rs 343.50 to Rs 514.70, with a face value of Rs 10.