If you thought that the hydrocarbon sector and its allied services will be out of favour owing to a prolonged downturn in the crude price, that clearly doesn’t seem to be the case. Ajay Relan, the former private equity head at Citi and who now runs his own successful PE fund, CX Partners, has taken fancy to a proxy play in the hydrocarbon sector. Relan, who in his personal capacity has invested in quite a few stocks in the past, has now bought into Alphageo India, a company engaged in the niche seismic survey business. The Hyderabad-based company is the country’s largest onshore integrated seismic service provider in the private sector and is a market leader.
Relan, who has in the past has courted eClerx, As