ONGC Ltd: The Next Logical Target: Rs.310-312
Also, The markets should move up if the Government is doing Disinvestment of ONGC Ltd as it will reduce the Fiscal Deficit....!! The Auction is expected to be held on next WEDNESDAY
Also, The markets should move up if the Government is doing Disinvestment of ONGC Ltd as it will reduce the Fiscal Deficit....!! The Auction is expected to be held on next WEDNESDAY
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The Chart and few days of trading clearly indicates the scrip could surge past Rs.300 in the coming days. A Group of Ministers headed by Finance Minister Pranab Mukherjee is slated to meet very soon to consider selling 5% government stake in ONGC to raise about Rs.12,000 crore. The GoM is to meet to consider proposals relating to disinvestment in Oil and Natural Gas Corp (ONGC).
The GoM had earlier this month postponed a decision on the mode of selling stake in ONGC and it will meet again to consider 5% stake sale in the nation's biggest energy explorer to raise about Rs.12,000 crore.
This may perhaps be the last (GoM meeting) before Budget (for 2012-13 is presented in Parliament on march 16). The government had in November last year put on hold a proposal to sell 5% of its stake in ONGC through a public offering.
Auction involves very little paperwork and the whole process can be done very quickly.
The GoM had earlier this month postponed a decision on the mode of selling stake in ONGC and it will meet again to consider 5% stake sale in the nation's biggest energy explorer to raise about Rs.12,000 crore.
This may perhaps be the last (GoM meeting) before Budget (for 2012-13 is presented in Parliament on march 16). The government had in November last year put on hold a proposal to sell 5% of its stake in ONGC through a public offering.
Auction involves very little paperwork and the whole process can be done very quickly.
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