Investors looking for an exposure to the oil sector should be betting on state-owned oil marketing companies, says Jal Irani, managing director, Macquarie Securities.
Valuations of these companies are attractive, and while their finances may be in a precarious condition, this could force the government to support them, Irani said in an interview to CNBC-TV18. He sees ONGC as a defensive bet among state-owned oil companies. On Reliance Industries, Irani says third quarter earnings could fall as much as 20% compared with the preceding quarterDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
