Reliance Industries looks oversold: Arvind Sanger

In a chat with ET Now, Arvind Sanger, Managing Partner, Geosphere Capital Management shares his view on governments divestment programme and oil companies.

ET Now: What else is looking well positioned to you and are you being a buyer in this fall in the Indian market?

Arvind Sanger: Today’s Fed meeting was an important event. I must admit that I am probably a little bit more surprised and I expect it to be that the Fed has indicated that probably by middle of next year if not may be a earlier but certainly by middle of next year it looks like they are likely to start raising rates.

If the global liquidity concerns are going away then oil falling is not negative at all for many oil importing countries like India so we are looking to nibble at names and it is a bottom up market but the financials are sold off those are fine.

Even some energy companies like Reliance Industries which are more downstream than upstream look significantly oversold which do not have uncertainty about what the government is going to do.

I guess leaving aside the gas side of the equation so the name like that is interesting but there are number of other bottom up names across a variety of sectors.