India's ONGC shares gain on hopes of hike in gas prices
MUMBAI Jan 24 (Reuters) - Shares in state-run Oil and Natural Gas Corp Ltd rose 3.4 percent in pre-open trading on Thursday as the oil ministry is expected to soon recommend a revision in local gas prices.
The oil ministry will soon send the recommendations to the cabinet for consideration, a ministry source told Reuters on Wednesday. (Reporting by Rafael Nam)
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The recent market correction was overdue. A further correction would be an opportunity for those who missed the rally in the past few months. The markets could get a reality check next year and consolidate before the next big movement. I still believe PM Modi will not fritter away his mandate and deliver on his promise, albeit with a delay, writes Ambareesh Baliga. Article