Bullish on RIL: Sonam Udasi, IDBI Capital

In a chat with ET Now, Sonam Udasi, Head of Research, IDBI Capital, gives his stock call


What is your view on Reliance Industries as well as ONGC now. We are seeing traction in these stocks after a while, news based of course.

Our view on the entire sector has become positive since the measures that were announced on Friday. A big overhang has been lifted. It gives some clarity. We like Reliance more. In case of ONGC and Oil India about 50% to 60% of the upside benefit will be taken away in the form of subsidy given the fiscal constraints that we are in. We think Reliance and Cairn would benefit more. Reliance looks structurally more better over the next one year. They are doubling capacity by FY16-17 and this should give it a leg up till that time and then act as a trigger. Reliance comes out stronger in this in our view.