SAIL has target of Rs 110, says Baliga

SAIL has target of Rs 110, says Ambareesh Baliga, Market Expert.

Baliga told CNBC-TV18, “Steel makers, I think that talk is there plus most of the steel majors have increased their prices also in the recent past by Rs 1,000-500. So that is also positive. Looking at the recovery in China, clearly all the steel companies should in fact do better going ahead at least in the foreseeable future for about next three-six months.”
He further added, “I think even at these levels, there is still a decent amount of upside left. For something like SAIL, which I had recommended in the beginning of the December when it was about Rs 83-84, I had a price target of about Rs 110. It will reach there anytime soon.”