Stock market analyst Rajesh Jain of SMC Global Securities has maintained 'hold' rating on Oil and Natural Gas Corporation stock.

According to Mr. Jain, the investors can exit on rally to Rs 1180.

The analyst added that the interested investors can buy the stock again, if it sustains above Rs 1200.

Today, the stock opened at Rs 1141 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 1273 and a low of Rs 976 on BSE.

Current EPS & P/E ratio stood at 71.05 and 16.01 respectively.

ONGC is making discussions with BP Plc, Exxon Mobil, BG Group, Eni and BHP Biliton for a strategic affiliation for its Krishna Godavari basin gas block.

The company is in search of a partner after Norway's Statoil and Petrobras of Brazil announced their decision to quit the block KG-DWN-98/2 because of administration delays in sanctioning their involvement in the deep-sea acreage.