Book some profit in Tata Steel: Ashu Madan

Ashu Madan of Religare Securities told CNBC-TV18, "We have seen Tata Steel has given us very impressive growth in the last financial year in terms of demand, in terms of price and in terms of profitability also."

He further added, "If you look at the many portfolios of mutual funds also they are also under owned in metals, so I would say that though in the current situation we are witnessing some kind of a profit taking ideally it still looks good for an upside and probably one can hold for long term. But we have seen that these kind of cyclicals at time suddenly go topsy-turvy in cycles. So, I would suggest that book partial profits and hold the balance and keep some stop losses in mind because when the cycle turns you tend to go wrong. As of now it looks strong, profit booking in line with the normal market conditions nothing more than that."