Sell SAIL, says Kamlesh Kotak

Sell SAIL, says Kamlesh Kotak of Asian Market Securities.

Kotak told CNBC-TV18, "We recommend a sell on SAIL. Outlook for steel sector is worsening by the day because of multiple problems in terms of slow volume growth, pricing pressure and non availability of iron ore. The companies muted advance tax payment also signaled that the earnings are going to be under severe stress. We expect the stock to come down to Rs 106 and recommend a sell on the same."