Stake in Kashagan Field credit negative for ONGC: Moody's

Global ratings agency Moody's says ONGC's proposed acquisition of ConocoPhillips’ 8.4 per cent participating interest in Kashagan Field in Kazakhstan is credit negative because it would increase the state-run firm's consolidated net debt by at least $5 billion. ONGC shares traded 0.8 per cent higher at Rs 251.80 at 11.20 a.m. The stock has ended lower for the last four sessions. 70 per cent of ONGC shares are held by the governm...