Bearish on ONGC and other OMCs: G Chokkalingam

In a chat with ET Now, G Chokkalingam, Equinomics Research & Advisory, shares his views on ONGC.

ET Now: So subsidy burden on ONGC has increased its oil bill?

G Chokkalingam: Definitely, I mean ONGC is one of the major companies to share the burden of the government and it would continue to do so and also now there could be stoppage of revision of the fuel prices because of the elections, so it would not be an exception in sharing the burden.

ET Now: So you are bearish on ONGC.

G Chokkalingam: Certainly and I would say that this is a time to take the cash out from these companies now.