Rahul Shah of Motilal Oswal Securities told CNBC-TV18, "Entire oil marketing companies (OMC’s) have been acting as a defensive sector in this kind of turmoil in the markets. So the long is getting added and the stocks are showing quite a good strength. So I would buy Bharat Petroleum Corporation (BPCL) at current level with a stop loss of Rs 860 and with a target of Rs 910."
At 13:20 hrs Bharat Petroleum Corporation was quoting at Rs 870.30, up Rs 8.75, or 1.02 percent. It has touched a 52-week high of Rs 881.
Disclosure: Analyst does not have any positions or personal interest but definitely recommend it to his clients.
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