ONGC @1011 (280708) gets 1236 panch-tattva points and should be bought. It was even earlier recommended for purchase and rewarded in a market which is otherwise drifting lower.
ONGC’s MD Mr R S Sharma has called upon govt-wallas to rather have provision for taking extra profit tax on windfall gains due to crude prices rising exhorbitantly and not subject it to (whimsically) asking it to give subsidies to oil marketing companies. He has also told that making cess on crude production advolerum instead of adquantum will take care of need to tax extra for gains in an transperant manner. I fully endorse his view . Earlier on I have many times raised this issue , if only the govt_wallas (the minister and the baboos) will listen. Now , with left aside , Mr Singh should sing some rational tunes.
