Jyotivardhan Jaipuria, HOR, DSP Merrill Lynch is not positive on the oil and gas space.
Jaipuria told CNBC-TV18, "We have not been very positive on the oil and gas space. The problem is if we see global oil prices go up, then it gets tough for the subsidy burden to be shared in India and to some extent all the domestic government oil companies will end up bearing quite a bit of that subsidy burden and that is what really creates a problem for an investor that you don't really know how much of subsidy burden comes to your company and to that extent earnings are always unknown till like the last minute."
