Hold BPCL, says Gaurang Shah

Gaurang Shah of Geojit Financial Services told CNBC-TV18, "We do have a positive coverage on Bharat Petroleum Corporation (BPCL) and there were mixed reaction in terms of this dynamic pricing, daily pricing that has come into effect. Our view on crude oil is that by and large you are not going to see USD 55-60 sustainability on the higher side and possibility of sub USD 50 or thereabouts is the range where we will feel that crude will be there for a long time. This augurs well."

"On the flip side you have a relatively stable INR against the US dollar which again is positive. Good dividend payout record, government owned company and cash and carry business, so from a long-term point of view hold on to it," he added.