Expect CIL, ONGC, REC to perform, says Jagannadham Thunuguntla

In a chat with ET Now, Jagannadham Thunuguntla, Equity Head, SMC Capitals shares his views on PSU index.

ET Now: What is your perspective on the Goldman Sachs ETF index as well as the PSU index?

Jagannadham Thunuguntla: The innovative nature of the instrument will pave way for the similar instruments going forward. Considering that this instrument has yielded the positive results to the investors, there will be a positive spillover effect that can always come in. This is a good instrument, not only from the divestment perspective, but also this instrument is proving to be healthy from the Indian capital market point of view.

ET Now: Which are the PSU names that you are convinced about buying right now?

Jagannadham Thunuguntla: For some time now, we have been bullish on Coal India starting 240 level. It has yielded two results. It has already seen upto 280-290 levels. I feel ONGC is one more bet and still has more legs to go. ONGC is appearing to be a credible bet. Same is the case with REC, which always has a chance at least upto 240-250 levels.