Vishal Jajoo, Senior Equity Research Analyst at Nirmal Bang Securities told CNBC-TV18, "I would advice to hold on to Tata Steel because it is basically a cyclical play and things have gradually started turning in this particular sector. We were not at all discussing metals and mining stocks for the last few years in fact it is just few quarters we have started looking at that."
"As far as Tata Steel goes they acquired Corus probably got it at the wrong end of the cycle put in USD 12 billion at the time of acquisition and USD 2.50 billion post that. Now there are certain news that they are in the process of selling the long products division focusing on the specialty flat products segment which is a niche area. Though they should help not only improve the balance sheet but especially improve their focus on this particular segment. So overall with marginal improvement across the globe and in the domestic market, in Tata Steel this correction is a buying opportunity," he added.
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