Mihir Kothari of Motilal Oswal Securities is of the view that Indian Oil Corporation , IOC would be the best bet among oil marketing companies.
Kothari told CNBC-TV18, "Oil marketing companies have underperformed the market for a long time. In fact the valuations at which they available, these are not earnings valuations. These are play in simply asset valuations. Softening of oil prices is clearly given some amount of strengths."
He further added, "I would expect the momentum to continue in these stocks though it is extremely difficult to trade these stocks. Unless one takes at least three-six months view on these stocks it becomes extremely difficult. But overall the view from these levels is clearly positive and within the entire pack, we would clearly feel IOC would be the best bet of the lot."
