Bullish on ONGC: Dhiraj Agarwal, Standard Chartered Capital Markets

Dhiraj Agarwal, Director, Institutional Equities, Standard Chartered Capital Markets, in an interview with ET Now, talks about ONGC


What is the call on ONGC? Is it too late to get into the stock because now though market would be working on in terms of what the FPO pricing would be?

From a longer term point of view we like ONGC despite the rally, it still has some value. FPO pricing and FPO pressure all in all have sometime beaten down the stock, sometime helps the stock so and apart from some short term gyrations I do not think it matters that much. It is a hugely exciting stock because there is not large amount of earnings growth going forward but there is deep value and in the current environment where people are focusing on buying value because it gives a better sense of protection ONGC should continue to do well.