May 21, 2013, 07.22 PM IST | Source: CNBC-TV18

Hold Oil India, advises Ashu Madan

Ashu Madan, President of Core Client Group at Religare Securities suggest holding Oil India. He feels the stock can see Rs 600 level in next three months.

Ashu Madan, President of Core Client Group at Religare Securities told CNBC-TV18, “Currently if you compare the trend Oil India continues to be in the up trend. The way it is moving in fact the entire sector is performing well and the sectoral outperformance will continue to be seen in the future also. So, I would suggest sticking with Oil India.”

“And if everything goes well, the way the quarterly numbers also depict we can see a price of Rs 600 in the short while, maybe in a three months time. So, that is the time when if Oil and Natural Gas Corporation (ONGC) or any other stock has underperformed one can think of switching over to any other stock. However, right now he should continue with Oil India only,” Madan added.

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