Amit Dalal positive on Reliance, Cairn, ONGC

Amit Dalal of Amit Nalin Securities is positive on Reliance Industries, Cairn India and ONGC.

Dalal told CNBC-TV18, "I remain positive on Reliance, Cairn India and ONGC not necessarily because of the USD 4 price movement in oil. But today for instance in Reliance, there is one piece of news which should not be ignored and that is NTPC ready to sign for the current requirement that it has of gas at more than USD 4 rather than wait for the agreement to be signed for the gas at more than USD 2 of its future requirements. So you now have a cash flow coming into Reliance irrespective of that particular situation and that’s already showing in advance tax figures.”