RBS Asia Securities neutral on RIL

Parul Saini, Executive Director, RBS Asia Securities is neutral on RIL.

Saini told CNBC-TV18, "The way we are looking at things, our analysts recently came out and upgraded ONGC. And the view there was valuations had gotten to levels where stock looks quite interesting. The other stock we still have on our model portfolio side is Cairn India. I know there are concerns about the deal overhand etc but I do think from an Indian portfolio perspective it is one of the few stocks that gives you exposure to higher crude oil prices."
 
He further added, "On RIL, at the beginning of the year, we changed our view. It is now a neutral rating and we are sticking with that. Those would be the key stocks on the long to neutral side." "On the OMC from kind of strategy perspective, we are still a bit cautious given what is happening to oil prices. Our analyst though has moderated his stance on those names. He is more neutral on the OMCs which is form a portfolio perspective given what is happening to oil prices, we still underweight the OMCs."