Prashant Prabhakaran of YES Securities told CNBC-TV18, "From our side I think the marketing companies were a buy from 2015 onwards. However, for the last few quarters we had stayed away from giving recommendations in the sector. We are more comfortable in looking for a combined play of both refining, distribution as well as various other business put together."
He further added, "Reliance Industries comes into our pack which is buy from our side for a long term period not just because of their core business of refining but also the fact that over a period of time in the next 4 or 5 years you will also see the telecom story unfolding for them. Though it doesn’t look like that they will make money in the near run but it is a long term story to be played out in the future."
Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments and moneycontrol.com.
Discover the latest business news, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
