Mayuresh Joshi, VP- Institution at Angel Broking told CNBC-TV18, "Goodyear India is a cash rich company, looking at the way the raw material prices have fallen down, Goodyear should perform exceptionally well. So, one can have a look at Goodyear at the current level for a target of Rs 665 placing a stoploss at Rs 620."
"Clearly I think gas pricing is something which is playing on both upstream and downstream companies. If you look at downstream companies the under recoveries are expected to go down in a substantial manner with Brent cracking the USD 100 mark. In that sense itself the working capital requirement should go down for IOC. One can have a look at Indian Oil Corporation at the current level for a target of Rs 414 placing a stoploss at Rs 390," he added.
"One can pick Oil India. With the kind of Brent movement that you are seeing the under recoveries should go down for the upstream companies as well. Oil India is in a sweet spot to increase its production output from the eastern regions and clearly I think with subsidy sharing going down, that should benefit the stock immensely. So, I think one can have a look at Oil India at the current levels with a target of Rs 675 placing a stoploss at Rs 646."
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