Ambareesh Baliga, Edelweiss Financial Services told CNBC-TV18, "I think the whole contour for the oil sector has changed after that decision to free diesel prices and we have been seeing increases every other month. Now people will stop talking of subsidies and talk about the asset pricing, which again I have said sometime back. So, the companies are actually in a multi-year bull run. So even at these levels despite the rise which you have seen in the recent past it is still a buy."
On May 11, 2013 Indian Oil Corporation ended at Rs 307.95, up Rs 2.40, or 0.79 percent.
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