ICICI Securities cautious on oil marketing companies

Anantha Narayan, Co-Head Equities at ICICI Securities is continue to be cautious on the oil marketing companies.

Narayan told CNBC-TV18, "We continue to be cautious on the oil marketing companies because of the way the crude prices moving. If diesel prices get deregulated there could be some sort of advantage for them but broadly crude price impact will be fairly severe for that pack. We like stocks like Reliance Industries and ONGC; our analyst has a positive view on that."