Metals: “Sentiment remains positive in the sector, valuations are reasonable in it, although I would say it is relatively expensive market. But I don’t see any real major correction unless commodity prices take a severe downturn,”

Oil marketing companies (OMCs): “Globally, the transportations are doing well. GRMs are closer to USD 8 per barrel. So, overall from an inventory gains perspective, most OMCs should declare good numbers this quarter and the next. You could see 1520% returns from hereon in MRPL, “However, you don’t know where the crude cycle is headed. It is possible that the run-up will again go back as fast as it has come.”

Oil India IPO: “It should get subscribed on day one itself, “There are not many exploration companies in India. So it should see a lot of investor interest.”

NHPC and Adani Power IPO may affect Oil India’s prospects because midcaps were giving decent returns, so investors may not bother to invest for the short term. “It is another matter if you are buying the stock for the longer term. So one should buy the stock if one is very patient but for the average investor, it is probably an avoid. One might get it at cheaper price when it does list in the markets in a few weeks time.”

S:MC