Oil stocks to remain buoyant and positive: Vikas Khemani, Edelweiss securities

In a chat with ET Now, Vikas Khemani of Edelweiss securities shares his views on oil sector stocks.

ET Now: Given the recent policy initiatives do you think oil marketing stocks are a must buy on every decline?

Vikas Khemani: The recent reform has been very positive move and it is very sort of move in the right direction and we have seen stocks doing well post that now the challenge will be in my opinion before buying those stocks one needs to see whether these reform process will be carried out or not. Whether the structured deregulation will continue in a sustained manner or not especially given the election season probably in late part of this year or early part of the next year so that will be the key call but I would tend to think that at least this momentum will continue for next one or two quarters and if you are looking to buy with that kind of perspective and possible risk of that changing towards the election that could be a good way to look at. In my opinion these stocks would remain buoyant and positive at least for one or two quarters and then positive news flow will continue in them.