Mehul Thanawala of JM Financial Institutional Securities told CNBC-TV18, "ONGC’s primary concern is on the under recovery portion and the sharing of under recovery. The stock has corrected and about Rs 250-270 is the range in which it will remain in the near term and till there is clarity. We do not expect clarity on the under recovery sharing at least till April or May and till that time we do not see a significant upmove in the stock from these levels."
The share touched its 52-week high Rs 354.10 and 52-week low Rs 234.40 on 18 January, 2013 and 28 August, 2013, respectively.
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