Some part of the benefit that upstream companies like ONGC saw because of rupee depreciation will be taken away by the government in the form of higher subsidies, says Amit Rustagi of Antique Stock Broking. So instead of Rs 60,000 crore last year, ONGC may be bearing Rs 70,000 crore under recovery this year.
first published: Sep 26, 2013 12:06 pm
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