Prefer BPCL, says Gagan Dixit

Sep 30, 2013, 12.26 PM IST

Gagan Dixit, Oil Analyst at Quant Broking prefers Bharat Petroleum Corporation (BPCL) at current level among the oil marketing companies (OMCs).

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Prefer BPCL, says Gagan Dixit

Gagan Dixit, Oil Analyst at Quant Broking prefers Bharat Petroleum Corporation (BPCL) at current level among the oil marketing companies (OMCs).

Like this story, share it with millions of investors on M3

Prefer BPCL, says Gagan Dixit

Gagan Dixit, Oil Analyst at Quant Broking prefers Bharat Petroleum Corporation (BPCL) at current level among the oil marketing companies (OMCs).

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Gagan Dixit, Oil Analyst at Quant Broking told CNBC-TV18, "I prefer the downstream public sector undertakings (PSUs) primarily because there are lots of triggers, there is status quo by Kirit Parikh Committee and also anything like rupee strengthening or anything happens that is for the primary beneficiary with the oil marketing companies (OMCs) by the reduction in their interest expenses."

"Among the OMCs, I prefer Bharat Petroleum Corporation (BPCL) at this level. If I take the last week's price on price to book value basis adjusting for the E&P and other investments, I think BPCL was trading at around 0.4-0.5 times of the price to book versus Hindustan Petroleum Corporation (HPCL) which is around 0.5 and Indian Oil Corporation (IOC) around 0.6-0.7 times. So that is why BPCL is the cheapest among the OMCs and so that is my top pick among the whole oil and gas space," he said.

Also Read: BPCL keen on Bina Refinery IPO next fiscal

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