Positive on oil marketing companies, says SP Tulsian

“I will be positive on all three oil marketing companies — IOC, BPCL, HPCL —because I do not think crude is seen moving again by beyond $80/bbl though it is very difficult to take that call," said stock market guru SP Tulsian.

On June 22, Russia will take a decision on increasing crude oil production and if that happens then that will be seen definitely positive for oil marketing companies, Tulsian said.

"With Q4 numbers behind where the Gross Refining Margins (GRM) have all been between $6.5 and $7.5 for all three oil marketing companies and the valuations at which they have been ruling can definitely be seen as good buy for the month of June or for the month of June series,” he said.