Jyoti Vaswani underweight on oil and gas sector

Vaswani told CNBC-TV18, “Oil sector, we are adopting a slightly underweight stance, but it is more stock-specific approach that we are taking.”

She further added, “We have been waiting for this kind of a fuel price hike for quite some time and we will see how this pans out going forward because the key for the oil sector is going to be how the subsidy burden is shared between upstream and the downstream companies and how much hike is permitted for the downstream companies. Clearly, it’s a wait and watch approach. At the moment we are slightly neutral underweight on the oil and gas sector and would look only at stock-specific opportunities on that sector.”