Sekhar told CNBC-TV18, "Everything is more or less priced in because I think there has been a lot of premium on JSW Steel as compared to Tata Steel because it is more lever to the Indian growth story. Since India has been doing well in steel consumption as compared to the rest of the world, JSW Steel becomes the obvious choice."
He further added, "One has to remember that these are non-integrated player and any increase in raw material prices JSW may not be in a position to absorb them, which might hamper its profitability going forward. Valuations at around 6.8 times EV/EBITDA is highly demanding. So from a long term perspective, I do not see much merit in buying or holding the stock at the current levels. It is a clear case of booking profits."
