Bharat Petroleum Corporation (BPCL) is a top pick in the public sector undertakings (PSU) space, says Niraj Mansingka, Associate Director, Edelweiss Securities.
Mansingka told CNBC-TV18, "In the public sector Bharat Petroleum Corporation (BPCL) is our top pick in the entire oil and gas and in private we have Reliance Industries as our top pick. BPCL more because of a upstream earnings supporting and infact opening of the diesel itself has come as an icing on the cake and the stock did have a big move up significantly."
He further added, "If there is a partial deregulation of diesel, which is also the risk as far as diesel is concerned. Upstream earnings and the capex that BPCL is doing on the refining in Kochi will come as a earnings support in a longer term future. Hence, we are looking at that stock as a top pick in the public sector undertakings (PSU) space."
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