SP Tulsian, sptulsian.com is positive on JSW Steel and SAIL .
Tulsian told CNBC-TV18, "For last couple of months we have been seeing huge run up in the non-ferrous metal stocks. If you see Sterlite Industries , Hindustan Zinc , Hindalco - so probably subdued results of Hindalco is seen as a trigger for the profit booking. But you take the trend for last two or three days, I am seeing lot of positive bias getting built on the ferrous metal stocks and especially after the deal of Uttam Galva having acquired stake in the Lloyd Steel of about 26%."
He further added, "If you take the rise in the share price of Jindal Steel & Power , JSW Steel , Steel Authority, Bhushan Steel , in fact all these ferrous metal giants whether they are into the flat or they are the long products, they have all been doing well. Probably that is the reason in fact the negative result of Tata Steel is not reflected into the share price. In fact I am seeing much more upside happening in these ferrous metal kinds of stocks and two, prime picking pick in that segment would be JSW Steel and Steel Authority. Obviously Tata Steel because I agree that maybe because of the short covering but because of the positive bias on the sector, probably it is better to take a shift from non-ferrous metal stocks to ferrous metal for next 15 days to one month. I don't think that for the ferrous metal stocks the rally is going to fizzle out so quickly and positive bias on two - JSW Steel and Steel Authority."
