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Govt asks ONGC to sell golf courses in Gujarat

15 Jul 2019 Evaluate

The government is asking Oil and Natural Gas Corporation (ONGC) to sell its golf courses in Ahmedabad and Vadodara in Gujarat, sending the company into a tizzy as one of them has two producing oil wells.

The Department of Investment and Public Asset Management (DIPAM) has deemed golf courses and sports clubs owned by central public sector enterprises as 'non-core' assets and wants to monetise them.

ONGC is India’s largest government-run corporation and produces about 70% of India’s crude oil and natural gas. The corporation is the biggest public sector commercial organization in India.

Peers
Company Name CMP
ONGC 231.35
Oil India 454.00
Jindal Drilling&Inds 512.55
Deep Industries 622.35
Asian Energy Service 397.05
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