Technical analyst Radhika Gupta of Forefront Capital Management maintained 'hold' rating on Oil & Natural Gas Corporation Limited stock.

According to analyst, the investors can hold the stock for further upside from current levels.

She expects commodity rates to lift up which would benefit the company.

The stock of the company, on February 08, closed at Rs 281.80 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 368 and a low of Rs 252.39 on BSE.

Current EPS & P/E ratio stood at 23.27 and 12.18 respectively.

Oil and Natural Gas Corp (ONGC) and its division Mangalore Refinery and Petrochemicals Ltd (MRPL) will market 320,000 tonnes of oil products.

For the same, sale tenders have been issued.

ONGC has decided to market 35,000 tonnes of naphtha from Mumbai port in west India for March 2-3 lifting.

Oil & Natural Gas Corp's (ONGC) net profit for the third-quarter grew by 132% at 7,083 crore, furthered by revival of 1,900 crore dues from natural gas clients.

For the nine month period ended December 2010, ONGC's net profit grew by 24% at 16,133 crore.

Profit surged in spite of a rising subsidy load, which is up 95% during the first nine months of 2010-11.

ONGC said that the administration must have a obvious plan on how much subsidy the company would have to pay to aid state oil marketing firms sell fuel below cost.

"It is important for investors in the follow-on public offer," ONGC said.