Book profits in Jindal Steel: Phani Sekhar
Published on Sat, Nov 21, 2009 at 09:41 | Source : CNBC-TV18
Updated at Sat, Nov 21, 2009 at 11:23
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Book profits in Jindal Steel: Phani Sekhar
Book profits in Jindal Steel, says Phani Sekhar, Fund Manager, Angel Broking.
Book profits in Jindal Steel , says , Fund Manager, Angel Broking.
Sekhar told CNBC-TV18, "JFE steel would bring technology to Jindal Steel, as far as flat products are concerned, mainly in the segment of automobiles. But independently also if you look at the capex plans of Jindal Steel we are expecting over the next three years 33% volume growth with a favourable product mix. The upsides are going to be meaningfully capped because Jindal Steel sources 50% of its iron ore from the spot market and does not have access to captive iron ore mines. I would advice the investors book profits in Jindal Steel for now."
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