Bullish on ONGC: Shashank Khade, Kotak Securities

Shashank Khade, Executive Vice President-Portfolio Management Services, Kotak Securities in a chat with ET Now, gives his stock recommendation


If you have to pick and choose from the E&P space and if you have to literally pick and choose between Reliance and ONGC, which stock would you like to buy? For ONGC there is a subsidy overhang, for Reliance there is an E&P problem.

ONGC will be still better off given the fact that Reliance E&P issues are not going to get resolved or even the production step up was to happen, it is going to take at least 2 years from here. So from that standpoint, ONGC looks far better. Clearly ONGC is telling you that, the management is actually telling us that they would want to step up their exploration activity. So that is a better play than Reliance for the time being.