Mehraboon Irani's view on Gail

Mehraboon Irani, Principal and Head-Pvt Client Group Business, Nirmal Bang Securities has shares his view on Gail.

Irani told CNBC-TV18, "The only name which comes out and the stock which is reacted quite well, though it has rebounded over the last two trading sessions and purely from a long-term fundamental angle is Gas Authority of India Ltd (GAIL). I think that is the only stock which investors can look at from a longer term angle considering the fact that the stock has reacted down and there are not too many negatives if you ask me at the present price."
He further added, "Coming back to the OMCs, I think the market will possibly look at what happens to this petrol rollback. As of now the market is optimistic that, okay the government is not going to heed to the noises made by some of the alliance partners and may not rollback and if that happens possibly if you have a diesel price hike coming. So for all you know OMCs according to me would be a risky trading buy if you ask me."
"Coming back to names like ONGC and Oil India, honestly considering the fact that we have a problem with the government’s finances I think I have been completely averse from a investment angle on 100% public sector companies like ONGC and Oil India though they may also rebound a little bit from a trading angle if we see a diesel price hike coming which honestly I am not very, very confident about."