Stock market analyst Husseini Wadharia of Techno Shares is of the view that investors can 'buy' ONGC Ltd stock for short term with targets of Rs 1200 and 1235.

According to analyst, the investors can buy the stock with stop loss of Rs 1152.

Today, the stock of the company opened at Rs 1156 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 15.02 respectively.

According to reports, if talks for a strategic affiliation with MNCs fail, ONGC may explore KG offshore petroleum fields completely on its own.

Oil and Natural Gas Corporation has posted a rise of 71% in net profit for the three month period ended March 2010 on the back of better realization on crude oil.

The company's net profit during the fourth quarter was Rs 3,776 crore.

ONGC recorded a surge in its quarterly net profit in spite of paying higher fuel subsidies as compared to the year-ago period.

ONGC paid around Rs 4,999 crore in the fourth quarter towards fuel subsidies as compared to Rs 852 crore in the same period of last year.

During the quarter, the company received $51.42 per barrel of crude oil sold against $43.40 in the year ago period.

The directors have announced a payout of Rs 33 per share aggregating to Rs 7,058 crore.