BNP Paribas downgrades ONGC to 'hold'

MUMBAI Fri Feb 22, 2013 8:48am IST

A technician works inside the Oil and Natural Gas Corp (ONGC) group gathering station on the outskirts of Ahmedabad March 2, 2012. REUTERS/Amit Dave/Files

A technician works inside the Oil and Natural Gas Corp (ONGC) group gathering station on the outskirts of Ahmedabad March 2, 2012.

Credit: Reuters/Amit Dave/Files

Related Topics

Stocks

   

MUMBAI (Reuters) - BNP Paribas downgraded Oil and Natural Gas Corp Ltd(ONGC.NS) to "hold" from "buy", saying the recent rally in share prices already factored in the prospect of an increase in diesel prices.

India last month allowed state fuel retailers to gradually raise the price of diesel.

BNP Paribas said it preferred Bharat Petroleum Corp Ltd (BPCL.NS) as a play on potential diesel price hikes.

(Reporting by Abhishek Vishnoi; Editing by Prateek Chatterjee)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Banking Sector

REUTERS SHOWCASE

Factory Activity

Factory Activity

Economy fears deepen as August HSBC flash PMI at three-month low  Full Article 

Fed Minutes

Fed Minutes

Fed notes labor market progress, but not convinced yet - minutes  Full Article 

Asian Market

Asian Market

Asia shares slip as China disappoints, Japan bucks trend  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage