ONGC gains after Bank of America upgrade

Written by Reuters | Mumbai | Updated: Sep 8 2014, 16:18pm hrs
ONGCThe investment bank said that more gains are expected from oil reforms than earlier. (Reuters)
Oil & Natural Gas Corp (ONGC) gained 1.8 percent after Bank of America Merrill Lynch upgraded the stock to "buy" from "neutral". The investment bank said that more gains are expected from oil reforms than earlier. It also raised target price to 534 rupees from 466 rupees.