Sharmila Joshi positive on steel space

Sharmila Joshi of sharmilajoshi.com told CNBC-TV18, "One should wait to enter Jindal Steel & Power (JSPL) because there is an important event which is likely to play out today and there is a good chance that it can even get postponed. Therefore, on the back of that wait to see how this thing plays out, what the Supreme Court comes out and says then precisely if there is any kind of delay then depending on how much delay there is, there is room to buy but it is best to allow the whole news to play out whether it’s positive.”

“If its positive then buy immediately, if it is negative then wait for the impact to come on the stock price and then look to enter the stock. Overall I am positive on steel space. I am positive on JSPL but as I said this event is too big to ignore. So, wait and hear completely what the financial implications are on the stock are,” she said.