I sold 50% of my long position in RNRL. The proceeds are given to HPCL. With fiscal deficit climbing, govt has no option but to divest. I am banking with divestment HPCL would be one of the first on the block.
If that happens, then it may zoom to 4 figures in no time. It has almost same revenues as a RIL but it is quoting almost 1/6 to 1/7th time.
I thinking of moving the remaining 50% of RNRL too in to HPCL as RNRL is more of momentum stock. It is rather good to move to some other oil stock like HPCL.
DISCLAIMER: Do your due diligence before investing.
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