The upstream subsidy contribution is by way of discount on crude oil they sell to refineries. With international oil prices almost halving to USD 50 per barrel, providing the subsidy discounts would have meant they got rates way below their cost of production.
the markets then will pan out. The downtrend is not over but at least a pause is quite possible,” he said. He advises three stocks to go ahead and trade for a BTST -- Oil and NaturalGas Corporation (ONGC
that Oil and NaturalGas Corporation (ONGC) is what we like at lower levels between Rs 310-305. That stock has good support and is briefly trading below those levels. That is one stock which we would think