SP Tulsian positive on Crompton Greaves, JSW Steel

25214 Investors following Crompton Greave. Share this News with them.

0

Like this story, share it with millions of investors on M3

SP Tulsian positive on Crompton Greaves, JSW Steel

SP Tulsian, sptulsian.com is positive on Crompton Greaves and JSW Steel.

Post your opinion here

 

0

Tweet

Share on Tumblr

Excerpts from Closing Bell on CNBC-TV18 Watch the full show » ALSO READ See previous views by SP Tulsian See what other Experts & Brokerages are saying about Crompton Greave See messages about Crompton Greave

SP Tulsian, sptulsian.com is positive on Crompton Greaves and JSW Steel .

Tulsian told CNBC-TV18, "Crompton Greaves, when the management has while giving the concall, they have said that first half is really looking quite bad for the company but in the second half things are likely to improve. If you see the performance or the improvement in the capital goods sector, I am not only confining to L&T. The smaller ones like Thermax , ABB , Siemens and all these kind of stocks have started. In fact maybe you can add Cummins in that. It is not exactly but they are all comparable players in the same space. That's the reason probably I am seeing value buying coming back to the stock in Crompton Greaves on which I have been maintaining my positive view though it has corrected at the levels given by me."

He further added, "JSW Steel, since the export duty has hiked on iron ore for of about 30% and the kind of price softening which we are expecting, even the NMDC is likely to cut the auction prices- that is going to ease the availability of iron ore for the company. If that happens being the largest player in the mild steel space. I think this company is going to benefit to a great extent. But the only caveat for JSW Steel because of its very high trading volatility, one should really look to buy the stock below Rs 580-590. We see those kinds of levels coming very often in the stock. You see it moving back to those Rs 630-640 then correcting to as low as Rs 575-580 kind of levels. So more a trading flavor in the JSW Steel available but maintaining positive call on a fundamental basis on both the stocks."