Positive on oil and gas stocks: Sadanand Shetty, Taurus Asset Management Company

Sadanand Shetty, Vice President & Sr. Fund Manager - Equity, Taurus Asset Management Company, in a chat with ET Now talks about the oil and gas stocks.

What is your view on oil and gas stocks and in your portfolios, what is the percentage of these holdings in your portfolio?

What government did is something which is path breaking in terms of something market has been waiting for long. We have a decent weight in oil and gas and related companies in the portfolio. We are very positive. The re-rating is due for the companies and the sector. That is something we will outperform over the next couple of period of time till the time we see it coming into the fair value.

Rather than looking at price hike or decision which has been taken, one has to look at the resolve which government is adopting for the sustained and fiscal prudence. It is something which will have a longer term impact on the market, especially in terms of the government borrowings which could impact the government finances as well as the perspective of international agencies and the international investors in the way they look at India in a current scenario.