Bullish on oil marketing companies: BP Singh

In a chat with ET Now, BP Singh, Executive Director & CIO-Equities, Pramerica Mutual Fund, shares his views on OMCs.

ET Now: Do you think the rupee weakness impacts the oil marketing companies as well or they have bigger problems at hand with the policy in action?

BP Singh: Rupee is weakening but at the same time the global commodity prices are coming down. So even if the oil prices are coming down there is not going to be any big negative impact on oil companies.

Let us not get panic on the rupee weakening because central bank this time is well prepared as compared to July. So weakness in the currency, which is bound to come because we cannot insulate ourselves 100%, but whenever it comes one must use this an opportunity and there is no need to re-visit the July 2013 kind of scenario in our mind rather use this as an opportunity.