OMCs good bets, says Deepak Shenoy

Deepak Shenoy of capitalmind.in told CNBC-TV18, "I still feel that the oil marketing companies (OMCs) are a good bet now because we have liberalised diesel and petrol. LPG subsidies are going direct, so the oil companies by themselves which were losing a lot because of the uncertainties on who is going to take the subsidy that part has gone. So, because of that Hindustan Petroleum Corporation (HPCL), Indian Oil Corporation (IOC) and Bharat Petroleum Corporation (BPCL) which are oil marketing companies will benefit. I don’t however see a great positive in two companies, Oil India and Oil & Natural Gas Corporation (ONGC) because they have a large exposure to the lowering of prices of oil."Hindustan Petroleum Corporation ended at Rs 871.95, down Rs 6.15, or 0.70 percent. It has touched a 52-week high of Rs 884.