Rahul Singh, Head of Equity Research of Standard Chartered Securities told CNBC-TV18, “The upstream oil & gas companies look little better than the others. I think everywhere one can see value especially if crude prices are going to stay low at USD 100 per barrel or so. There is a potential for these companies to come out of the subsidy mess over 12 to 18 months, especially post the general elections next year.”
He further said, “If one were to take a more calculated risk, I would probably go with ONGC and Oil India because not only do they benefit from lower subsidies but in my view the gas price hike is going to happen, whether it happens in three months or six months, twelve months you will see an uptick in gas prices which will benefit both ONGC and Oil India.”Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
