Mehul Thanawala, vice-president - equity research, JM Financial is bullish on ONGC. He sees scope in Gail in the long-term but has a hold on the stock at current levels.
Mehul Thanawala of JM Financial Institutional Securities expects Oil and Natural Gas Corporation (ONGC) to remain in Rs 250-270 range in the near term.
Mehul Thanawala of JM Financial Institutional Securities talks about upstream companies such as ONGC and GAIL, their under-recovery position and stock price. He talks about whether there is a possibility of a re-rating of the GAIL stock. He also shares his views on Oil India and Cairn.
Mehul Thanawala, VP, Research-Oil & Gas, JM Financial expects the oil and gas major to report flat Q4 gross refining margins (GRMs) at USD 9.5 per barrel versus USD 9.6 per barrel in the previous quarter.
Mehul Thanawala, vice-president – research, JM Financial Institutional Securities explains that the performance of the refining and petchem divisions aided Reliance to beat the street‘s estimates.
Mehul Thanawala of JM Financial explains to CNBC-TV18 that the fall in ONGC's profits was in line with analysts' estimates. Thanawala adds that according to JM Financial's analysis, the overall production for FY13 will be flat.