Steel stocks look better: Baliga
Ambareesh Baliga of Karvy Stock Broking said, “Steel looks better than what it was a couple of months back. At this point most of them look quite expensive in spite of the positive guidance that has been given.”
“Steel surely looks better than what it was a couple of months back. At the same time, the way the stocks have moved up, at this point most of them look quite expensive in spite of the positive guidance that has been given. So, we feel that the stocks should react at least another 20% from here especially a stock like Tata Steel. We expect a reaction of anywhere between 15% and 20% before it really becomes a good buy at those levels.”
Source : MoneyControl
Tags: baliga, best sector steel, best steel stocks, hot stocks, nse bse stocks, short term stell pics, steel picks, steel stocks
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