Deshpande told CNBC-TV18, "Shiv Vani Oil & Gas Exploration Services is a fairly strong play in onshore oil exploration in India, it runs almost ten teams which does seismic survey and another 40 rigs it holds and it has an order book which is almost 2.5 times its last years sales. So there is a good visibility of revenue over the next 2-3 years and if you look at the valuation terms it is really well priced, it's at around 5 times enterprise value to EV to EBITDA and it's cheaper than the international comparison."
He further added, "If you look at many other stocks, which are doing well in the economy today they are having a fairly good valuation compared to international peers. This is one of the reasons why we like the stock. It has got a big order book, good visibility of revenue and the valuations are fairly well. The target price is around Rs 525-550."
