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Mehraboon Irani of Darashaw & Company is of the view that one should ignore ONGC at the current level.
Irani told CNBC-TV18, "I have never been a fan of ONGC, however I rate this company very highly as its balance sheet is healthy but as a stock I don’t think this is a stock which is going to be great money to investors at the present level of Rs 802-803. I would rather ignore this stock." He further added, "I feel the market is full of opportunities and money has to ride on the right stock and ONGC is definitely not a stock, which I would possibly allow my investors to ride the money on and even if overall the market corrects ONGC is going to correct. So at Rs 802, definitely it is a pass for me."
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