Tata Steel may touch Rs 500: Vishal Jajoo

Vishal Jajoo of Nirmal Bang Securities told CNBC-TV18, "Tata Steel has corrected on the basis of the data that we have got across the globe but one cannot rule out the fact that the kind of recovery that we are seeing as far as steel demand goes, majorly things improving on the European front and even as far as the data for India goes."

"There has been a marginal improvement that for January to September we have been net exporters of steel and steel output has improved significantly. I think Tata Steel should emerge as a key beneficiary and the stock even can touch Rs 500 levels in the near term," he said.