Short Tata Steel, Sesa Goa, SAIL: Agarwal

Shubham Agarwal of Motilal Oswal Securities is of the view that, one can short Tata Steel, Sesa Goa and Steel Authority of India (SAIL) from metal space.

Agarwal told CNBC-TV18, "If we look at some of the stocks in metal then Sesa Goa and Sterlite Industries are at a verge of a breakdown. So, one can look to go short on Sesa Goa for another 15 percent of downside is what we expect. Very similar setup is there in Steel Authority of India (SAIL) as well. So, stocks like Tata Steel, Sesa Goa and SAIL will be the most preferred stocks for going short in the metal space." SAIL's trailing 12-month (TTM) EPS was at Rs 8.57 per share. (Dec, 2012). The stock's price-to-earnings (P/E) ratio was 8.91. The latest book value of the company is Rs 96.38 per share. At current value, the price-to-book value of the company was 0.79. The dividend yield of the company was 2.62%. Disclosure: I do not have any personal holding but we might have recommended some of the stocks to our clients.