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Supporters holding flags of ruling Congress party leave after attending an election campaign rally by Rahul Gandhi at Hardoi district in Uttar Pradesh January 28, 2012. REUTERS/Adnan Abidi/Files

Weakened Congress wondering if early elections will help

The Congress party is debating holding a general election in November, six months ahead of schedule, senior party leaders said, reflecting an internal discussion over whether to pull the plug on the shaky ruling coalition or have it serve a full term.  Full Article 

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ONGC shares fall as earnings miss estimates

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A technician opens a pressure gas valve inside the Oil and Natural Gas Corp (ONGC) group gathering station on the outskirts of the western Indian city of Ahmedabad March 2, 2012. REUTERS/Amit Dave/Files

A technician opens a pressure gas valve inside the Oil and Natural Gas Corp (ONGC) group gathering station on the outskirts of the western Indian city of Ahmedabad March 2, 2012.

Credit: Reuters/Amit Dave/Files

Fri Nov 9, 2012 12:09pm IST

Reuters Market Eye - Shares in state-run producer Oil & Natural Gas Corp(ONGC.NS) fall as much as 2.5 percent a day after posting a bigger-than-expected fall in July-September net profit due to higher subsidies.

Lower production is another concern, analysts say: HSBC estimates ONGC posted a fourth sequential quarterly decline in crude oil production.

HSBC maintains its 'neutral' rating on the stock with a target price at 300 rupees.

ONGC shares down 2.3 percent at 259.15 rupees as of 11:43 a.m..
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