Retail investors should ignore ONGC, says PN Vijay

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Retail investors should ignore ONGC, says PN Vijay

Retail investors should ignore ONGC, says PN Vijay, Portfolio Manager, pnvijay.com.

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Excerpts from Closing Bell on CNBC-TV18 Watch the full show » ALSO READ See previous views by PN Vijay See what other Experts & Brokerages are saying about ONGC See messages about ONGC

Retail investors should ignore ONGC , says PN Vijay, Portfolio Manager, pnvijay.com.

Vijay told CNBC-TV18, "The government is so hard up for numbers. They quietly increased the subsidy, but sensing that ONGC was getting a bit of a bonanza from the royalty thing which government gave to them against Cairn. So, its some barter going on between the government and ONGC does work within a range and these types of stocks are not at all interesting for retail investors."

He further added, "Institutional brokers track them but we people who are in the retail and HNIs don't bother about these stocks. The last thing is that there is a beautiful report within the ministry which is gathering dust which I hope Montek or Pulok Chaterjee pulls out of a mega merger of ONGC with all oil marketing companies. That's the final game plan on this otherwise government will be playing games like this every day. Moving profits here, there and to itself and I think retail investors should just ignore the stock."