Oil India looks attractive: Raamdeo Agrawal

Oil India is looking attractive, says Raamdeo Agrawal of Motilal Oswal Financial Services.

Agrawal told CNBC-TV18, "Personally I am not big fan of Public Sector Undertakings (PSUs) and after this  deregulation thing Oil India’s subsidy burden might come down, so it becomes attractive. At an absolutely beaten down  valuation anything becomes attractive, so even these will become attractive at current valuations. They are very large  monopolistic resource and monopolistic power company, so they are very attractive to buy for long-term."
Oil India touched its 52-week high Rs 617.40 and 52-week low Rs 431.00 on 18 January, 2013 and 16 May, 2012,  respectively. Currently, it is trading 8.37% below its 52-week high and 31.25% above its 52-week low. Market  capitalisation stands at Rs 34,006.26 crore.