ONGC to go strong with or without FPO: Gaurav Doshi, Morgan Stanley PWM

In a chat with ET Now, Gaurav Doshi, VP Equity Specialist, Morgan Stanley PWM, share his views on various stocks.

ET Now: What is the call on the ONGC especially if the FPO is called off?

Gaurav Doshi: If the FPO is called off it will remove a over hang of supply on the stock and the stock could trade higher. We have seen a lot of strength not only in this stock but in the sector per se. The government has been slightly proactive in the last two-three months and providing a lot of clarity about subsidy sharing burden with regards to oil and gas companies. With or without the FPO, ONGC and this pack will trade strong for the next one or two months. If the FPO does go off, the stock has the potential to rally a little.