Shares of Oil India Ltd (OIL) fell 2% on 5th January after touching a day’s high of Rs 432.45, despite the firm signing a Deed of Agreement for the composite licence of the Phop Graphite and Vanadium block at Yazali circle in Arunachal Pradesh, an official statement said.

The agreement was signed on Thursday, 1st January 2026, for the mineral block located in the Keyi Panyor district. Senior officials from the Arunachal Pradesh government, OIL, and CESHS were present.

Under the deal, CESHS will join the project as a local partner with a 10% stake. They will support survey and exploration work, as well as coordination with local communities and authorities.

OIL’s technical expertise, combined with CESHS’s local knowledge, is expected to improve operational efficiency. This collaboration will promote responsible and sustainable mineral development in the region.

The agreement is viewed as an important step in India’s critical minerals roadmap. It supports resource security, strategic self-reliance, the energy transition, and regional development in Arunachal Pradesh.

At 3:21 PM, shares of OIL were trading 2.16% lower at Rs 419.60 on NSE.

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