Buy Oil India, says Rajesh Agarwal

One can buy Oil India, says Rajesh Agarwal, Head of Research at Eastern Financiers Limited. “With subsidy burden going down I think it is going to be a big positive for companies like Oil India, Oil and Natural Gas Corporation (ONGC) because diesel prices have been hiked month on month basis, he adds.
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May 14, 2013, 06.06 PM | Source: CNBC-TV18

Buy Oil India, says Rajesh Agarwal

One can buy Oil India, says Rajesh Agarwal, Head of Research at Eastern Financiers Limited. “With subsidy burden going down I think it is going to be a big positive for companies like Oil India, Oil and Natural Gas Corporation (ONGC) because diesel prices have been hiked month on month basis, he adds.

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Buy Oil India, says Rajesh Agarwal

One can buy Oil India, says Rajesh Agarwal, Head of Research at Eastern Financiers Limited. “With subsidy burden going down I think it is going to be a big positive for companies like Oil India, Oil and Natural Gas Corporation (ONGC) because diesel prices have been hiked month on month basis, he adds.

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Rajesh Agarwal (more)

, Aum Capital | Capital Expertise: Equity - Fundamental

Rajesh Agarwal, Head of Research, Eastern Financiers Limited told CNBC-TV18, "Both Oil India and Tata Steel are very good stocks for ones portfolio and it has to be ones own choice. With subsidy burden going down I think it is going to be a big positive for companies like Oil India, Oil and Natural Gas Corporation (ONGC) because diesel prices have been hiked month on month basis. The government nod for exploration for KG-D6 basin gas received would also be a big positive trigger.”

He further added, “On the whole of that if you look at the valuation it is trading at a P/E of less than 8 which is very cheap going by the fact that the kind of assets this company has, the kind of prospect this company has it is a very good buy but if you have to choose between Tata Steel and Oil India I would suggest put 50 percent of your money in Tata Steel and 50 percent in Oil India.”

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