Pankaj Jain of Sunteck Wealthmax told CNBC-TV18, "This is not a time to buy Indian Oil Corporation (IOC). We have already seen a run up in this stock from levels closer to Rs 200 to current levels. This run up is more to do with the stake sale which is happening. After that stock could again get into that lazy mood and get into underperforming mode.”
“If you have to buy this stock, valuations for this stock could be at levels closer to say between Rs 210 and Rs 213 and nothing at current levels. With the kind of outperformance we are seeing in some other sectors, you may not be able to make smart money in IOC at current levels. So, as of today at current juncture, current rate it is an avoidable stock," he added.
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