Deven Choksey of KR Choksey and Securities told CNBC-TV18, "With the fall in the crude oil prices the derivatives of the crude oil also would probably come down. Along with the increase in the demand certainly the paint industry is appearing to be better placed compared to others in the coming times. However, the benefit is unlikely to come in next one or two quarters. The benefits could probably come little later. From that point of view we will monitor the prices and the valuation at such point of time."
"As far as buying the companies which are related with the crude oil, probably upstream companies will be better. Within that the preference could be more on Reliance Industries at this point of time. Considering the fact that Oil and Natural Gas Corporation Limited (ONGC) would come out with offer for sale (OFS) and at that point of time, you might get it at discounted rate. Probably at this point of time if one wants to accumulate, it would be a better opportunity to accumulate Reliance," he said.
"Reliance could be a good investment choice for next two to three years. Maybe in the near term you don't have too much of excitement because of the lack of the volume growth but otherwise the company appears to be quite well positioned for the growth eventually from all it's verticals in next two to three years."
Disclosure: Network 18, which publishes moneycontrol.com, is now part of the Reliance Group
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