Prakash Diwan, Head - Institutional Clients Group, Asit C Mehta Investment shares his view on SAIL , Tata Steel .
Diwan told CNBC-TV18, "SAIL is finally boiling down to a very bottom-up stock specific activity and we were to see- Tata Steel also had a very disappointing set of numbers, but look at the way the stock has rallied post the number. Whereas SAIL, of course while the numbers we have seen disappointing barring the forex effect. I think people would start choosing between these stocks and go to the ones, which offer higher safety margins and the margin of safety distinctly is better than the likes of Tata Steel."
He further added, "We will see some polarization profit taking from the ones, which have seen sharp run ups, which may not be warranted unreasonable all the time and move into stocks that still have some sort of an upside left or some sort of a safety margin, which is higher. So, that intra-sector churn is what I am expecting, be it Hindalco and Sterlite , SAIL and Tata Steel."
