ONGC gains on hopes of subsidy, gas reforms

Reuters Market Eye - Shares in Oil and Natural Gas Corp gain on Wednesday with dealers citing hopes of reforms on subsidies and gas prices ahead of the state-owned company's share sale.

ONGC shares were trading up 1.8 percent to 425.60 rupees as of 12:33 a.m.

The government plans to sell a stake in ONGC, India's largest oil and gas exploration company, later this year.

(Reporting by Abhishek Vishnoi)