HPCL, BPCL good bet for short term: Shah

HPCL and BPCL could be a reasonably good bet for short term, says Manish Shah, Head Technical Analyst, Fortune Financial Services.

Shah told CNBC-TV18, "ONGC is holding on quite well today. We have seen stocks like BPCL, HPCL have seen some sort of a rally, so my take would be that a small short-term trade in stocks like HPCL and BPCL could be a reasonably good bet." HPCL trailing 12-month (TTM) EPS was at Rs 29.36 per share. (Sep, 2010). The stock's price-to-earnings (P/E) ratio was 12.48. The latest book value of the company is Rs 341.31 per share. At current value, the price-to-book value of the company was 1.07. The dividend yield of the company was 3.27%.