Neeraj Deewan of Quantum Securities told CNBC-TV18, "We have seen crude coming down and making a base now and consolidating at these levels. Plus very little available information about what will happen to the subsidy sharing. I think I will not look at ONGC and I don’t think this can outperform going ahead. There will always be the scare of what can happen as far as the subsidy is concerned. There were some measures which came that if crude goes above 60/bbl then there can be some sharing, so better to avoid ONGC for the time being.”
“Oil marketing companies on any correction are good investment bets. I think there are still a lot of reforms which are going to come in as far as oil and gas is concerned. So, oil marketing companies would be one of the top buying as far as oil and gas sector is concerned,” he added.
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