Prasad Baji, Senior VP, Institutional Equities – Research at Edelweiss Financial Services told CNBC-TV18, "Overall in the metal space our three top picks are JSW Steel, Sesa Sterlite and Hindalco Industries. We are more positive on non ferrous side because there the price action will be much higher. We see much higher price in non ferrous than in ferrous."
"For zinc prices we expect USD 2450 on LME as compared to USD 1900. Similarly on the aluminium side we expect USD 2100 next fiscal as compared to FY14 sub USD 1800 level. So, certainly the price action will be far better on the non ferrous side. So, Sesa Sterlite and Hindalco would definitely be top picks for us. They have volume growth as well in addition," he added.
"In Sesa Sterlite we have a price target of Rs 392. In Hindalco we have a price target of Rs 240. On the ferrous side our top pick is JSW Steel. Tata Steel is also a buy. In JSW Steel we have a price target of Rs 1856 and for Tata Steel the price target is Rs 670."
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