Stock Tips and FPO Update for NSE & BSE

Finance Ministry is likely to let ONGC FPO open in the 1st week of July. A lot of clarifications will be given before the FPO gets opened and subsidy sharing will alo be clarified before the FPO opens. The Finance Ministry and Oil Ministry officials are working on the subsidy sharing formula to avoid any confusion at a later stage. 

Steel Secretary has also tried to take advantage of the situation and has stated that SAIL FPO is likely to hit market on June 14. To make it a grand success, road shows will resume in 1st week of June through out India. However everything is not a gospel truth and final decision on SAIL FPO will be out by Wednesday.

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Before we sign off; ONGC and Sail can be added at lower levels. It will fall by another 10-15% and that will be the ideal time to reenter in the stock for long term.