IOC, BPCL look interesting: Dilip Bhat

In the longer run, Indian Oil Corporation (IOC) and Bharat Petroleum Corporation Limited (BPCL) looks very interesting, says Dilip Bhat, Joint MD, Prabhudas Lilladher.

Bhat told CNBC-TV18, “It (oil companies may be allowed to sell diesel to bulk buyers at market rate: sources) will give them some respite and more importantly it will give them some amount of cash in their books which they are really starved of at the moment, but I think slightly in the longer run as government moves towards the cash transfer schemes directly into the hands of the population I think it will really help the OMCs in the longer run and it will improve their cash flows quite a bit.”
 
He further added, “There is some sense of direction which we are getting finally for the OMCs. So I think in the longer run I have all these three companies particularly Indian Oil Corporation (IOC) and Bharat Petroleum Corporation Limited (BPCL) looks very interesting.”