JSW Steel top pick, says Naveen Kulkarni

Naveen Kulkarni, co-head, research at Phillip Capital told CNBC-TV18, "In the metal space our pick is JSW Steel. Probably the global metal prices seem to be bottoming out. So, that provides some kind of breathing space for the metal stocks. Apart from that, the regulatory hurdles are clearing out in this space. So, these two factors are going to be helpful and if demand picks up and the government regulations can be helpful for the sector, we could see some bit of improvement coming in for the metal space."

On Wednesday, JSW Steel closed at Rs 867.05, up Rs 27.70, or 3.30 percent. It has touched an intraday high of Rs 885.90 and an intraday low of Rs 838.