Stay clear of Punj Lloyd for now: Paras Adenwala

Paras Adenwala, MD & Principal Portfolio Manager, Capital Portfolio Advisors in a chat with ET Now talks about oil exploration stocks.

Would you look at the oil exploration stocks at all? In the last couple of days, they have done fairly well, the likes of an HOEC or a Selan Exploration for that matter and two, if you do not track those, what would you do with a Punj Lloyd?

Yes, I do not track either of these two companies but prima facie I am positive on oil exploration because after all this turmoil that we are seeing globally, once this settles down, we should see an uptick happening in the oil prices and that should help the bottom lines and the growth rates of various oil exploration companies, so certainly I would really look at some of these for investment.

As far as Punj Lloyd is concerned, this company has kind of shown numbers, which have been very unsatisfactory quarter after quarter and, therefore, I am waiting for some semblance of stability to return back into their numbers before taking a call on the stock, so as of now, I would stay clear of the stock.