Wait and watch for ONGC: Sangeeta Purushottam, Nine Rivers Capital

Sangeeta Purushottam, Managing Director, Nine Rivers Capital, in a chat with ET now, gives her stock views


At Rs 276 is ONGC a buy, at Rs 265 is BHEL a buy?

In BHEL I would say that there are issues on the business itself in terms of the order flow as well as the competitive scenario so those are areas that people would look to gain comfort from and that is really the reason why you have seen L&T perform and BHEL has not really performed. So a lot depends on what happens really in the power sector in terms of the policy issues and if there is a sense that order flow is going start picking up again, otherwise it is difficult to make a case for BHEL. ONGC again is linked to policy in terms of the sharing of the oil losses so both are partly dependent on the way policy emerges.