Ambareesh Baliga of Karvy Stock Broking is of the view that the steel prices may increase by 10-15% over one-year period.
Baliga told CNBC-TV18, "People are expecting anywhere between Rs 750-1000 price cut in steel, which again I don't think is too high. Looking at one-year scenario, we are looking at a price increase of around 10-15% from here. Over the next one-year possibly post this price cut and again if these stocks come down because of this by say 8-10%, then most of them are worthwhile buy's especially Tata Steel and SAIL ."
Disclosure: In midcaps, I am holding the stocks and my clients should also be holding.
