Hold ONGC, says Sharmila Joshi

85062 Investors following ONGC. Share this News with them.

0

Like this story, share it with millions of investors on M3

Hold ONGC, says Sharmila Joshi

Hold Oil and Natural Gas Corporation (ONGC), says Sharmila Joshi, Investment Advisor.

Post your opinion here

 

0

Tweet

Share on Tumblr

Excerpts from Your Stocks on CNBC-TV18 Watch the full show » ALSO READ See previous views by Sharmila Joshi See what other Experts & Brokerages are saying about ONGC See messages about ONGC ONGC BSE | NSE 30/05/12 Are Mutual Funds betting on ONGC?

Hold Oil and Natural Gas Corporation (ONGC), says Sharmila Joshi , Investment Advisor.

Joshi told CNBC-TV18, "There are two issues; one is that this proposed hike in regulated gas prices will definitely mean a positive for ONGC and Oil India , so that if it comes through and I think the proposal is that it will come in by April 1; so that is something that would add to the positive sentiment on ONGC going forward. The other is also that what could become a factor could be the kind of pricing differential you have on Oil India and ONGC, now that Oil India is listed and given the size of the two companies, ONGC always has to trade at a premium with Oil India and whenever it doesn't do that you will see some kind of a reaction in the market where it will try to catch up, so both things are positive definitely for ONGC. I think the whole scenario as to how crude is stable at this level, what is being proposed even in the talk that you hear on the de-regulations or the change in regulations in this whole oil and  gas policy, so all things bode well, so the stock is a hold. But I don't know what can happen in the next 3-4 months but otherwise a good stock to have in your portfolio."