Reuters logo
BofA-Merrill upgrades ONGC, Oil India to 'buy'
January 24, 2013 / 5:04 AM / 5 years ago

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.

Engineers of Oil and Natural Gas Corp (ONGC) stand inside the Kalol oil field in Gujarat September 12, 2009. REUTERS/Amit Dave/Files

    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

    0 : 0
    • narrow-browser-and-phone
    • medium-browser-and-portrait-tablet
    • landscape-tablet
    • medium-wide-browser
    • wide-browser-and-larger
    • medium-browser-and-landscape-tablet
    • medium-wide-browser-and-larger
    • above-phone
    • portrait-tablet-and-above
    • above-portrait-tablet
    • landscape-tablet-and-above
    • landscape-tablet-and-medium-wide-browser
    • portrait-tablet-and-below
    • landscape-tablet-and-below