Lots happening in the oil and gas space. The Oil and Natural Gas Corporation (ONGC)-Hindustan Petroleum Corporation Ltd (HPCL) deal is through its final lap. As well, Reliance Industries Ltd (RIL) has posted strong numbers.
In an interview with CNBC-TV18, Harshvardhan Dole of IIFL shared his views and readings on the same.
It has been a great performance from RIL especially on the telecom front and it has taken everyone by surprise, he said.
On ONGC-HPCL merger he said, the deal is now through and the way the street should perceive in our view is the uncertainty in terms of newsflow is over. The corporate event is behind and the focus will now shift to the fundamentals of the oil marketing companies (OMCs) which are extremely robust.
For more, watch accompanying video...Disclosure: Reliance Industries, which owns Reliance Jio, also owns Network18, which publishes Moneycontrol.