ONGC, IOC - Current Affairs Questions and Answers

ANSWER: Haryana

Explanation:
The Centre and the Government of Haryana joined hands on 20th July 2017 to revive the long lost River Saraswati and provide water to the drought-prone areas of India.

Union Minister of State for Petroleum and Natural Gas (Independent Charge) Dharmendra Pradhan and Haryana Chief Minister Manohar Lal Khattar witnessed the signing of the `Memorandum of Agreement`.

The Haryana Government and ONGC have signed a Memorandum of Agreement for drilling of 10 water wells along the Petro Channel of Saraswati River up to a depth of 400-500 meters, which will aim at providing water in drought-prone areas.

Helping to restore the lost glory of River Saraswati, the MoA will also retain the river`s beauty as well.

The MoA signed today will not just increase the availability of water in the region but will also help in efforts towards rediscovering the lost lineage of Saraswati River.

The ONGC project is an added advantage for the state.

ANSWER: ONGC

Explanation:
Benchmark BSE Sensex rose rapidly by 858 points during the first week of October causing 9 of the top 10 most valued companies to gain INR 80,086.27 crore in market cap. ONGC posted the biggest gains. Sensex surged to 27,079.51, second straight weekly rise. Apart from Infosys, top 9 companies which saw market valuation rise included ITC, RIL and TCS. M-cap of ONGC surged to INR 2,25137.72 crore from INR 26,393.68 crore. TCS topped the list of companies being followed by RIL, ITC, HDFC Bank, Infosys, ONGC, Sun Pharma, CIL, HDFC and SBI.

ANSWER: IOC

Explanation:
It can fetch about 9,500 crore rupees to the exchequer. The floor price for the share will be announced on 22nd Aug’15 and the Offer for Sale will take place on 24th Aug’15. Presently, the government holds 68.57 percent shares in IOC, the biggest oil refining and marketing company in the country. The stake sale in IOC will be the fourth disinvestment this fiscal. The earlier 3 stake sales had raised over 3,000 crore rupees. The government is targeting to raise 69,500 crore rupees from disinvestment in the current fiscal.