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UBS raises ONGC to buy from neutral

UBS upgraded state-run India energy explorer Oil & Natural Gas Corp to buy from neutral on Monday, saying higher oil prices and lower royalty could drive stock performance.

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UBS upgraded state-run India energy explorer Oil & Natural Gas Corp to buy from neutral on Monday, saying higher oil prices and lower royalty could drive stock performance. 

At 9:29 am (0359 GMT), shares in ONGC were trading 0.7% higher at 1,330 rupees, while the main stock index was barely changed.

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