BLBG: Oil & Natural Falls in Mumbai After Report Profit May Be Capped
Oil & Natural Gas Corp., India’s biggest energy explorer, fell in Mumbai trading after the Economic Times reported it may face limits on earnings as the government plans to impose a cap on oil producers’ profits.
ONGC fell as much as 3.7 percent and was 3.3 percent lower at 1,012 rupees at 9:58 a.m. local time. The benchmark Sensitive Index was 0.3 percent higher in Mumbai.
