Exit MRPL, says Sharmila Joshi

Sharmila Joshi of sharmilajoshi.com told CNBC-TV18, "It is better idea to switch out of Mangalore Refinery and Petrochemicals (MRPL). Of course MRPL will become ONGC once the two entities merge but overall given the way crude is and what my outlook for crude is going ahead it makes better sense to switch from MRPL. Even if you want to be in the oil companies it might be a better idea to wait for a bit of a dip and get into a marketing company."

 

She further added, "If crude stays around current levels it is not very positive for exploration companies and which is why we are seeing whether it is ONGC, Cairn India any company which is in the exploration space is taking a bit of a hit at this point in time. I don’t think that one year is going to change that picture too much. So, given that it might be a better idea to switch to some other sector or if at all you want to stay in oil then switch to an oil marketing company."