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Morgan Stanley upgrades ONGC, HPCL to ‘overweight’

The government last month allowed companies to raise diesel prices, reducing the sector’s subsidy burden
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First Published: Tue, Feb 05 2013. 12 45 PM IST
ONGC shares rose 0.17% as of 12.30pm, while HPCL shares were down 0.99%. Photo: Reuters
ONGC shares rose 0.17% as of 12.30pm, while HPCL shares were down 0.99%. Photo: Reuters
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Mumbai: Morgan Stanley raised its ratings on India’s Oil and Natural Gas Corp. Ltd and Hindustan Petroleum Corp. Ltd (HPCL) to “overweight” from “equalweight”, citing benefits from the recent government reforms on fuel prices.
The government last month allowed companies to raise diesel prices, reducing the sector’s subsidy burden.
ONGC shares rose 0.17% as of 12.30pm, while HPCL shares were down 0.99%.
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First Published: Tue, Feb 05 2013. 12 45 PM IST
More Topics: Morgan Stanley | ONGC | HPCL | Rating | Fuel prices |
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