Buy HPCL, BPCL: Sudip Bandopadhyay

Sudip Bandopadhyay

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Sudip Bandopadhyay, Market Expert told CNBC-TV18, "We have been bullish on oil marketing companies (OMCs) for quite some time and I see no reason for changing that view. There has been a lot of investor concerns around Oil and Natural Gas Corporation's (ONGC) acquisition of Hindustan Petroleum Corporation (HPCL) from the government of India and the valuation or lack of that. So a lot of people are worried about that but I see fundamentally, nothing has changed as far as HPCL is concerned. It is a strong company."

"As far as crude oil prices are concerned, they are at a place where inventory loss and those issues are not going to be there because we do not see oil moving drastically one way or the other in the times to come. So inventory loss is not going to be there in a big way. The subsidy issue to a great extent is resolved."