Prefer Tata Steel, says Bhavesh Chauhan

Bhavesh Chauhan, metal analyst at Angel Broking told CNBC-TV18, "We like Tata Steel. We have seen that over the last three quarters European operations have done very well. They have beaten street expectations. Its Indian operations also continues to do well. Despite very slow demand in India, its domestic volumes have surprised us. It has managed to sell higher volumes. It had expanded its Jamshedpur facility by 50 percent.

"Going forward we believe that earnings stability in Europe and earnings growth from India operations is likely to take the stock at higher levels," he said.