Look at HPCL, says Pashupati Advani

Pashupati Advani of Globalforay told CNBC-TV18, "Oil marketing companies (OMCs) are finally coming into their with no subsidy. I think that now the competition has really begun. They had run-up a lot and now oil prices have come to levels where they don't even need a subsidy almost anymore. It has come back to below USD 50. In the old days we were at USD 35 and USD 50 looked like a high number. We are now below USD 50. So, USD 70 and USD 80 seem to have gone for the time being. So, yes there is a value to going into those.""Again you have to look at the comparative business models. I personally out of the three like Hindustan Petroleum Corporation (HPCL) just because of the way the company is run, not anything else. Also because it is simply oil marketing and refining as opposed to having all the products like the other two do," he added."I think if China is stopping importing then metals are getting hammered all over the world. Raw material inputs are coming in, everyone is looking for lower prices. You have seen it, even in the big ones like Tata Steel the prices are hurting."