Exactly one year from now, i.e by 10.01.2010, all the three PSU OMCs,
IOC,HPC,BPC will be sold off to pvt. players. Since they have already
fallen from being Fortune 500 cos to loss makers, due to govt's wrong
policies and the govt. does not want to burden itself anymore with
subsidy sharing measures like oil bonds etc. IOC will be gifted to
Reliance Industries, by whosoever comes to power, UPA or NDA. The drama
of divestment will be played out scene by scene. Bids will be invited,
all the bidders quoting higher than Reliance for IOC will be rejected
and finally it will be sold off to RIL. The pockets of babus and the
cabinet members will be warmed up suitably as has been done in the past
as well. The upstream oil cos. ONGC and GAIL will be spared since the
Govt. does not have to pay subsidy for them rather they share the
subsidy burden with govt.
Each of these three OMCs will double from their current price within a
year, at the least and are best suited for accumulation at the current
level.
