Wait and watch for OMCs: Sethuram Iyer

In chat with ET NOW, Sethuram Iyer, Chief Investment Officer, Daiwa Asset Management, gives his call on oil and gas stocks.


What do you make of all that you are hearing with regards to oil and gas for the OMCs, for the upstream companies as well?
Yes, the news which has been coming in the last one week is definitely positive for the sector which means it addresses the issues of subsidy.

It reduces the subsidy burden on several other companies in that space but we need to wait and watch whether the recommendations are going to be actually implemented and how soon that is going to happen. We need to wait and watch, the reactions based on steady report or a recommendation is a little bit premature because one needs to see the translation of that into action.