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Jun 27, 2012, 04.21 PM IST
Prefer Gail India, says SP Tulsian, sptulsian.com.
Prefer Gail India , says SP Tulsian, sptulsian.com.
Tulsian told CNBC-TV18, "The most preferred one will be the GAIL. I don’t think that one can be take a call on the oil marketing companies inspite of the fall in the crude and similar is the case for the upstream also because it is a wrong notion or to presume that the fall in crude prices will effectively be having the lower subsidy sharing by the upstream companies whether you talk of Oil India or ONGC because in my view, on the absolute basis, the subsidy sharing is going to remain the same, whatever benefits, which will accrue on account of the fall in crude prices or the lower under-recovery will ultimately get flown to the exchequer and they will see that they want to reduce it to the minimum."
He further added, "I won’t be too comfortable maybe from a trading perspective, one can look to enter into the OMCs but upstream maybe at the current level with Oil India now ruling more than Rs 500 or the ONGC ruling at more than Rs 285, I don’t think these are the real safe levels to enter even for traders as well as for investors. So, only one stock which comes in the mind amongst the PSU energy basket is the GAIL."
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