Bearish on ONGC: Prakash Diwan, Asit C. Mehta Investment Intermediates Ltd.

Prakash Diwan, Head - Institutional Clients Group, Asit C. Mehta Investment Intermediates Ltd., in a chat with ET Now, gives his stock recommendation


What is your view on ONGC?

They have been talking about a year and full year subsidy burden of about Rs 12000 crores and this kind of very much puts back in perspective. I do not think there is anything major that’s likely to kind of upset things for them beyond what they have already factored in but having said that, even this whole uncertainty that prevail in the hydrocarbon sector or in the subsidy sharing itself, that possibly is something, which is not attracting investments into any of these promising stocks, so the stocks are going to suffer a bit from some sort of a disinterest in times to come.