Rajesh Agarwal of Eastern Financiers told CNBC-TV18, "I wouldn’t advise investor to hold on Hindalco Industries. Although there have been some traction in the recent past in the stock due to hardening in metal prices, but going forward with the kind of performance Novelis is showing, with nothing coming from Mahan coal block which is going to take at least two-three years to fructify, I don't think there will be any big positive upside in the stock."
"Even on valuation parameter, it is trading at higher level. I don't think one should continue holding the stock. One can switch to Tata Steel at these levels which is trading at quite a low valuation," he added.
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