SP Tulsian negative on Jindal Steel, SAIL, Tata Steel

SP Tulsian, sptulsian.com is negative on Jindal Steel, Steel Authority, JSW Steel and Tata Steel.

Tulsian told CNBC-TV18, "I have been saying for the last one year that I am keeping my cautious stance on the ferrous metal sector. I am keeping my bullish or positive stance on the non-ferrous one but at least on the ferrous one I don’t think that situation is really going to improve."
He further added, "If one sees the numbers of JSPL, sequentially, if one sees the standalone, if you don’t compare it on a year on year basis the metal has really been the drag. I have not been so much disappointed with the power segment, so Steel Authority, JSPL and same thing is going to happen with Tata Steel also, that same story. That the company is going to post an EBITDA of Rs 2400-2500 crore on a standalone as well as on a consolidated basis which is eaten away by the depreciation of Rs 1400 crore and interest of Rs 1,000 crore."
"I don’t think that you will be having any kind of relief. Only JSW Steel stands somehow in this segment because one has these four players, four strong players - Jindal Steel, Steel Authority, JSW Steel and Tata Steel – so, keeping negative stance on all the stocks and the entire sector."