Gagan Dixit, Oil & Gas Analyst, Elara Capital says in case ONGC acquires stake in HPCL, then the fundamentals of the company will remain the same and will be a positive for HPCL stock
It had last raised excise duty on petrol and diesel by Rs 1.50 a litre each to help it achieve the fiscal deficit target for this year on November 14.
According to Gagan Dixit, Oil & Gas Analyst at Quant, one may Reliance Industries, may test Rs 1206.
Gagan Dixit, oil & gas analyst, Quant, says the petchem business is likely to double in the next 1-1.5 years.
Dixit is bullish on IOC and BPCL and sets the target price for the stocks at around Rs 430 and Rs 700, respectively.
Gagan Dixit, oil & gas analyst at Quant advises buying Reliance Industries.
Gagan Dixit, Oil Analyst at Quant Broking prefers Bharat Petroleum Corporation (BPCL) at current level among the oil marketing companies (OMCs).
According to Gagan Dixit, there is a huge potential that 10 million tonne LNG can go up to 30-40 million tonne and an upside is possible for the ONGC, but only in the long-term.
The fact that the finance ministry wants Reliance Industries to sell the quantity of its outstanding gas at the old price of USD 4.2 per mmbtu wont impact RIL's valuations as it is a very small part of the overall picture of the RIL KG-D6, says Gagan Dixit of Quant Capital.
Rs 60,000-crore upstream subsidy burden was mostly in line with ONGC's expectations, says Gagan Dixit, Quant Broking. He added that however, crude prices have corrected, and diesel under-recoveries have dipped below Rs 4.
Gagan Dixit of Quant Broking explains on CNBC-TV18 that the government's decision authorising OMCs to make small and periodic changes in diesel prices is part of the recommendations submitted by the Kelkar Committee