ONGC shares surged 6% after CLSA termed the government’s decision to cut crude oil and natural gas royalty rates a major positive for upstream producers. The brokerage said the move could raise ONGC’s fair value by 7-9% and Oil India’s by 9-11%. Oil India sha… For the full story, visit the source.
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ONGC shares rally 6% after govt cuts crude oil royalty; CLSA explains why it’s a big boost
ONGC shares surged 6% after CLSA termed the government’s decision to cut crude oil and natural gas royalty rates a major positive for upstream producers. The brokerage said the move could raise ONGC’s fair value by 7-9% and Oil India’s by 9-11%. Oil India sha…
By Veer Sharma· The Times of India· 1 day ago· 2 min read
This summary is sourced from The Times of India. Read the full article at:The Times of India