He said the shale gas revolution in the US had dragged oil prices to relatively low levels and made prices of upstream petrochemicals cheaper, and this would afford IVL better margins.
"We're not in a particular trend of acquiring more assets, but we're buying because it's the right time to buy," Mr Lohia said. "If the price is right, we should buy."
IVL shares closed yesterday on the set at 22.90 bath, down 30 satang, in trade worth 424 million bath.