BPCL is the best bet among the oil marketing stocks: Gaurang Shah

In a chat with ET Now, Gaurang Shah, VP, Geojit BNP Paribas Financial Services, shares his views on the OMCs, Excerpts:

ET Now: What is the investment thesis in OMCs and would you recommend taking profits off staying invested in these companies?

Gaurang Shah: Well in the oil marketing pack there is only one stock that we are positive on, that is BPCL. The problem is the kind of moves that these stocks give, there is very limited upside and whenever there is an overhang or a run up in the crude oil international market Brent and NYMEX, both and of course a lot depends upon the rupee dollar moves.

As of now both the crude oil prices and the rupee dollar equation is favouring the oil market companies so we would say that if we have to pick from all the three OMC names that have been listed well BPCL will be the one.