Prefer Vedanta, says Avinnash Gorakssakar

Avinnash Gorakssakar, Market Expert told CNBC-TV18, "Tata Sponge Iron has outperformed quite significantly and my suggestion is that I think if one is looking at a short to medium term kind of horizon, it is better that one holds for some time, rather than entering immediately. Better than Tata Sponge, Vedanta looks a better stock to put your money and within the metal space could be a good outperformer. So compared to Tata Sponge, if one could put the money in Vedanta, one could possibly get a better risk reward kind of an equation."

At 15:17 hrs Vedanta was quoting at Rs 314.80, up Rs 6.65, or 2.16 percent.

It has touched a 52-week high of Rs 314.80.