Monday 10 November 2008

ONGC looks safest: Vijay

Portfolio Manager, PN Vijay is of the view that ONGC is looking best and the safest.

Vijay told CNBC-TV18, "ONGC seems the best and the safest. It did disappoint in the last quarter’s performance but their subsidy bill was so high and in a very strange way, ONGC was the single oil explorer-producer in the world showed flat earnings. Everybody else was dancing around with joy but it has gone down too much, it has got excellent value, it is way below its replacement cost and the risk in ONGC at this level is practically zero. So I would probably play safe and take a bit of ONGC which is also a very heavyweight in the index."

Disclosure: Analyst might have positions in the stocks/sectors discussed through their portfolio management accounts or through proprietary accounts.

Source: Moneycontrol

Posted by Harsh at 07:40

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