Pick SAIL at around Rs 120-125: Phani Sekhar

Pick SAIL at around Rs 120-125, says Phani Sekhar, Fund Manager, Angel Broking.

Sekhar told CNBC-TV18, "The earnings are expected to be under pressure for the next two quarters at least because SAIL is facing headwinds on all possible front. So you have on one hand sluggish demand. Even the realizations are pretty flat to negative. On top of it you have coking coal prices which are not yet cooling off. The only respite for SAIL as compared to other steel companies is iron ore. Because a large part of it is captive but coking coal is making life difficult for SAIL.