Buy ONGC, hold on to Lanco, avoid IT: Sharmila Joshi

With the hike in diesel prices, oil and gas companies have become attractive investments.Companies like ONGC and BPCL have seen a boost in share prices, which is encouraging investors to buy into these stocks.

Another sector that has recently come under the scanner is IT. For the past few months, several brokerage houses have cut their grades for IT companies because of their performance. Sharmila Joshi of Fairwealth Securities says that she will not opt for the top four IT companies.
She also talks about Lanco Infratech which has been in the news recently for the suit filed against the company by Australian miner Perdaman Chemicals. Below is a verbatim transcript of her interview with CNBC-TV 18's Latha Venkatesh and Sonia Shenoy. Also watch the accompanying video. Q: What is your best pick now in the oil and gas space after seeing the events on Friday?
A: Possibly ONGC and the oil marketing companies, there you can choose but I would say BPCL over the others. But ONGC to my mind would be the biggest beneficiary because overall I like the exploration companies and the fact that ONGC