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ONGC rallies on stake buy talks in Russia's Arctic region
Gautam Chhaochharia, ED & Head-India Mid Cap Research, UBS Securities advises Indian investors to be defensive. He is underweight on the financial sector. He likes Federal Bank, ICICI Bank at the current levels but not SBI. “4700-4800 is a good support le
21 Aug 2012, 03:39 PM IST 
Shares of state-owned Oil & Natural Gas Corporation rose on the Bombay Stock Exchange following reports that the explorer's overseas investment arm ONGC Videsh (OVL) is in talks to pick up a stake in oil and gas blocks in Russia's Arctic region.
Sentiment was high at the counter also because ONGC is expected to shortly sell nearly 26 per cent stake in its KG-DWN-2004/6 block in the Krishna-Godavari basin to Japan’s Inpex Corporation.