Stock market analyst Rahul Mohinder has maintained 'buy' rating on Oil & Natural Gas Corporation Limited (ONGC) stock with target of Rs 1205.

According to analyst, the investors can buy the stock with stop loss of Rs 1150.

Today, the stock opened at Rs 1180 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 1273.50 and a low of Rs 976 on BSE.

Current EPS & P/E ratio stood at 78.39 and 15.25 respectively.

The administration is thinking over rise in prices of gasoline and diesel.

According to reports, the final verdict will be announced in the coming days.

On June 07, ONGC stock rose on speculation that the administration may raise gasoline and diesel rates, allowing the company to sell crude to state refiners closer to market value.

The Petroleum and Natural Gas Ministry on June 04 has given freedom to ONGC and OIL to price the natural gas developed by them at market rates.

The move is seen as a step in the direction of setting up a uniform gas pricing strategy as indicated by Petroleum Secretary S. Sundareshan on various occasions.

ONGC posted a 71% increase in its net profit for the fourth quarter ended on March 31, 2010.

Net profit of the company stood at Rs 37.76 billion as compared to Rs 22.06 billion in the corresponding quarter last year.

During the quarter, ONGC received $51.42 for every barrel of crude oil sold against USD 43.40 in the year ago period.