Buy Tata Steel, SAIL: Neeraj Deewan

Neeraj Deewan of Quantum Securities told CNBC-TV18, "As far as ferrous metals are concerned something like Tata Steel and Steel Authority of India (SAIL), if one has a long-term view on the economy and the market, one needs to cumulate them on all falls. Metal producers in India can benefit with some sort of budget measures like import duty on imports, so those kind of measure can start affecting them. China is also looking attractive."

"Some upward movement there can also benefit these stocks. So, I would be a buyer as far as metal stocks are concerned. However I would limit to stocks like Tata Steel or SAIL," he added.