ONGC shares fall as earnings miss estimates
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..
- Tweet this
- Share this
- Digg this
- Special Report: Why Madrid's poor fear Goldman Sachs and Blackstone
- Gold sales jump about 20 pct for Diwali - trade body
- Three major nations absent as China launches W.Bank rival in Asia
- ISL probes allegation of assault on Pires
- UPDATE 4-Doctor with Ebola in New York hospital after return from Guinea
The latest Reuters poll of 20 economists taken over the past week shows Asia's third-largest economy will likely grow 5.5 percent this fiscal year and 6.4 percent the next, slightly better than 5.3 percent and 6.3 percent expected in the July poll. Full Article
Kalki Koechlin on her role as a disabled girl in “Margarita, With a Straw” Full Article