Negative on metals, including NMDC: SP Tulsian

SP Tulsian of sptulsian.com told CNBC-TV18, "I am negative on NMDC. We have seen the stock moving up by Rs 20 from February 12. The board meeting of the company was held on February 12 and between those periods the stock price had gone up by Rs 20. I don't know whether the market was expecting 2000 percent dividend or what. It is a Re 1 stock and in fact the company in my view seemed to be quite generous in declaring 950 percent.""If you take any metal stocks, I have a negative view. In spite of the non-ferrous metals having gone up by about 20 percent or maybe 22-24 percent in this last couple of weeks, inspite of that I am negative on Hindalco Industries or maybe all other metal stocks, including Hindustan Zinc which seems to be a clear beneficiary for the rise in lead and zinc prices," he said."One has to wait for the Budget to come out. What kind of tinkering they do with the duty structure and all sort of things and I don't think the government has to really - this is what I have been holding my view - that the government should allocate any funds because Budget doesn't have that kind of depth. You have Rs 15-16 lakh crore. For that Rs 4-5 lakh crore or Rs 4.5 lakh crore goes for interest. So, it is a very set Budget items. You cannot spare or take out more than Rs 1.5 lakh crore for investment growth and that can't be the amount.""What the government can only do is allow the incentives and that is what I have been saying that on one hand when you have the corporate reduction plan along with a rider that all the benefits will go away, I don't think that can really spur the industrial growth because government have been talking of increasing the manufacturing share from 16 percent in gross domestic product (GDP) to 20-24 percent that cannot come with these two riders that you will reduce the corporate tax to 25 percent by taking away all the benefits. That can never happen and I don't think that is a rational and a sane, sensible move. So, this has to be looked into.""Railway Minister has said that in 2019 two dedicated freight corridors will be operational. He has launched three more which are quite long, maybe from Delhi to Chennai, from Kharagpur to Mumbai and from Kharagpur to Vijayawada. He has already opened three corridors again. So, all those things are going to get implemented. The contracting, the award of the contracts are seen to be quiet positive. The tendering timing has been reduced, maybe 6-8 months and all sort of things. So, yes, I am positive on cement and as I said if you have a good monsoon then rural demand will pick up, that will see the consumption growing for cement as well."