Downgrade Warning

Construction workers work at a site as the sun sets in the northern Indian city of Chandigarh December 16, 2006. REUTERS/Ajay Verma/Files

S&P affirms negative outlook on India, says chances of downgrade remain

Ratings agency Standard & Poor's affirmed India's sovereign rating at "BBB-minus" with a "negative" outlook, reiterating there was a one-in-three chance of a ratings downgrade over the next 12 months, a statement said on Friday.  Full Article 

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Hefty Fine

Hefty Fine

Tribunal orders fined cement firms to pay $109 million fee.  Full Article 

Share Sale

Share Sale

Tata Tele (Maharashtra) share sale cancelled.  Full Article | Related Story 

Tech Buzz

Tech Buzz

Google's wearable Glass gadget: cool or creepy?  Full Article 

Biggest Investors

Biggest Investors

China, India to be world's two biggest investors by 2030: World Bank.  Full Article 

ITC Results

ITC Results

ITC quarterly profit rises 19.5 pct, meets estimates.  Full Article 

Gold Market

Gold Market

Column - China, India demand not enough to save gold: Clyde Russell.  Full Article 

Chit Fund Scam

Chit Fund Scam

Fund scams target Indians beyond the reach of banks.  Full Article 

Foreign Inflows

Foreign Inflows

Foreign investors buy most Indian stocks in 3 months.  Full Article 

Buy, Sell or Hold?

Buy, Sell or Hold?

Confused while buying stocks? Get buy, sell or hold recommendations from VantageTrade.  Full Coverage 

Reuters India Mobile

Reuters India Mobile

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

BNP Paribas downgrades ONGC to 'hold'

Related Topics

Stocks

   
Track BSE Sectoral Indices

Track Markets: BSE Sectoral Indices

Track and analyse performance of all BSE sectoral indices and other global indices on a single page.   Full Coverage 

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

MUMBAI | Fri Feb 22, 2013 8:48am IST

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