Positive on BPCL: Mayuresh Joshi

Mayuresh Joshi of Angel Broking told CNBC-TV18, "If you talk about numbers specific along the next quarter, I think lot of discounting would take place in terms of how the price of oil stocks have moved up. So, falling of under recoveries, the debt level going down which implies interest cost goes down substantially. It improves their cashflows going forward. If really one has to make an assumption of oil staying within a range between USD 50-70 for the part of this fiscal, clearly what it boils down going forward would be how diesel marketing margins playout for a lot of these players, how they implement that and how it plays out.""For a lot of companies within the space specifically Bharat Petroleum Corporation BPCL has a case of point. How the NP part plays out is going to be extremely crucial over the next few years. So, the kind of capex that they put in and the kind of back ended returns that is expected to come through over the next few years will be a key and pertinent issue. So momentum might continue with these stocks with good numbers expected to come through for the next couple of quarters. However, clearly one needs to understand how the overall part of the business is moving on but the sentiments would be positive for the most of the OMC companies including BPCL," he said.