Prefer Hindustan Zinc, NMDC: Bhavesh Chauhan

Bhavesh Chauhan, research analyst at Angel Broking told CNBC-TV18, "JSW Steel has done well in terms of turning around its loss making subsidiary that it had recently acquired but valuation wise it is expensive at five times FY15 EV/EBITDA, a lot of positive surprises are gone, incremental triggers are lacking hereon. So, we are bearish on the stock."

"We continue to like Hindustan Zinc and NMDC," he adds. At 14:29 hrs Hindustan Zinc was quoting at Rs 128.60, down Rs 2.05, or 1.57 percent. It has touched an intraday high of Rs 131.45 and an intraday low of Rs 128.50. The share touched its 52-week high Rs 146.80 and 52-week low Rs 94.00 on 18 December, 2012 and 02 August, 2013, respectively. Currently, it is trading 12.4 percent below its 52-week high and 36.81 percent above its 52-week low. Market capitalisation stands at Rs 54,337.60 crore.