Hold JSW Steel, says Satish Betadpur

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Hold JSW Steel, says Satish Betadpur

Hold JSW Steel, says Satish Betadpur, CFA, Global Research Director, Independent International Investment Research.

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Excerpts from Your Stocks on CNBC-TV18 Watch the full show » ALSO READ See previous views by Satish Betadpur See what other Experts & Brokerages are saying about JSW Steel See messages about JSW Steel JSW Steel BSE | NSE 30/05/12 Are Mutual Funds betting on JSW Steel?

Hold JSW Steel , says Satish Betadpur , CFA, Global Research Director, Independent International Investment Research.

Betadpur told CNBC-TV18, "We like JSW Steel for the medium to longer term, the stock has run up a lot in the shorter run and we would like to pick up on weakness. The ideal time to buy the stock if there is a meltdown globally or if you get the stock at around Rs 750-800, that would be a great time to buy. We have a mid-term longer term target of about Rs 1250, so there is upside from these levels for a patient investor."

He further added, "The deal with JFE was positive all around, they get a good client base and probably good technology going forward and probably they will co-invest in Greenfield ventures. JSW Steel itself have one of the lowest conversion costs in the industry, good management, so we like the stock. It's just a little tad expensive at this point in time but for the midterm to longer term investor it's a good stock to hold on to."