Exit commodity stocks, says Dipan Mehta

Dipan Mehta, Member at BSE & NSE told CNBC-TV18, "I think it is a nice trading bounce and investors who are holding some of the metals counters, they could look at reducing their exposure in a gradual manner, because I think the medium to long-term prospects will remain under stress given the kind of global challenges which are there and what is happening with China. So this is certainly an opportunity to exit out of these commodity stocks and get again focused on the commodity consumer, some of the other secular group stories."At 10:34 hrs Tata Steel was quoting at Rs 256.80, up Rs 6.05, or 2.41 percent. It has touched an intraday high of Rs 257.70 and an intraday low of Rs 253.30.