BofA-Merrill upgrades ONGC, Oil India to 'buy'
MUMBAI (Reuters) - Bank of America Merrill Lynch upgraded its ratings on state-run producers Oil and Natural Gas Corp (ONGC) (ONGC.NS) and Oil India Ltd to "buy" from "neutral", citing the prospect of an "imminent" hikes in state-administered gas prices.
The oil ministry will soon send recommendations on a hike in gas prices to the cabinet for consideration, a ministry source told Reuters on Wednesday.
(Reporting by Rafael Nam; Editing by Sunil Nair)
- Tweet this
- Share this
- Digg this
- Bodies, black boxes handed over from Ukraine crash site
- India keeps world guessing in countdown to landmark trade pact deadline
- India to probe corruption in healthcare after TV sting
- Modi's BJP puts political twist on local sex abuse case
- China food scandal spreads, drags in Starbucks, Burger King and McNuggets in Japan
Consumer Confidence Index
More than half of consumers globally expect job prospects to be good to excellent in the year ahead, a survey showed on Tuesday. India overtook Indonesia as the most optimistic consumer market, while Portugal and Slovenia were the most pessimistic. Full Article
India keeps world guessing in countdown to landmark trade pact deadline. Full Article
Yahoo to buy analytics startup Flurry to bolster mobile ad business. Full Article