ONGC, BPCL preferred picks: Tiwari

ONGC and BPCL are preferred picks in oil&gas space, says Dhirendra Tiwari of Antique Institutional Equities.

Tiwari told CNBC-TV18, “We generally have been positive on selective oil and gas space. Particularly, if one looks at the oil marketing companies like Bharat Petroleum Corporation Limited (BPCL) they have been among our preferred picks. It will be very selective companies like BPCL who will benefit because of this. They offer certain amount of upstream opportunity as well and Oil and Natural Gas Corporation Limited (ONGC) which has also been a beneficiary of these developments.”
He further added, “In the next six to nine months the oil companies particularly companies like BPCL and ONGC would give us an opportunity to invest into this space. But one has to be careful and one has to look at companies selectively. We will have to see the earnings performance of the company which is benefiting real term in terms of the opportunity because of diesel price hikes. Our preferred picks have been ONGC and BPCL in this particular space.”