ONGC, GAIL, NTPC seen as defensives: Deepak Mohoni

Deepak Mohoni, Director, trendwatchindia.com in an interview with ET Now talks about ONGC and the rest of the OMC basket.

What about ONGC and the rest of the OMC basket?

ONGC and GAIL, they sporadically climbed back to new highs slowly but in a persistent manner. They are in the midst of one such rally. Another stock which behaved similarly to them but does not perform that well is NPTC. So these stocks are seen as defensives and there must be certain degree of portfolio switching demand for these stocks.