ONGC attractive buy, says AK Prabhakar

AK Prabhakar of IDBI Capital told CNBC-TV18, "Oil and Natural Gas Corporation (ONGC) has corrected from Rs 470 to almost to Rs 190 below levels. And crude has been correcting. Now, crude has stabilised and we feel now USD 35 per dollar to USD 60 per barrel would be the new range for crude and whenever crude is in a stable range, it is not very negative for ONGC because they do not need to share the subsidy. So, at these levels it is very attractive buy, but whether it will go to Rs 350 it is a bit difficult for us to predict at this point of time."At 15:02 hrs Oil and Natural Gas Corporation was quoting at Rs 230, down Rs 2.05, or 0.88 percent on the BSE.