SP Tulsian negative on the metal sector

Tulsian told CNBC-TV18, “Overall, there is a negative perception for the metal sector because one cannot attribute the price of iron ore to be the sole factor, as there are combinations of companies that are listed on our bourses. We have categories like ferrous metals, non-ferrous metal and natural resources. Sesa Goa , post merger can't be treated as a pure iron ore company because now they have a combination of all ferrous metal, non-ferrous metal in the form of iron ore, crude oil, but the market is not taking all these factors into consideration."

He further added, "I don't think that there is any specific reason. Hindalco and Tata Steel have performed very badly. But one cannot expect the stocks like JSW Steel and SAIL to go beyond these levels."

"So, overall a negative perception on the metal sector per se is building up, which is leading correction in the stocks. No fundamental or global reason can be attributed for the fall in price of these stocks."