Expect upside in oil marketing companies: Devang Mehta

Devang Mehta of Anand Rathi Financial Services told CNBC-TV18, "Oil marketing companies have done very well in terms of stock wise performance but still lot of levers are weighing for them. As the talk was going on regarding the Iran deal or nuclear deal a lot of benefits tend to accrue for India and overall for the oil and gas and especially for the oil marketing companies. So we feel that there is still some substantial upside for all the three oil marketing companies."

On Tuesday, Hindustan Petroleum Corporation closed at Rs 845.35, up Rs 25.20, or 3.07 percent. It has touched a 52-week high of Rs 856.45.