homevideos Newsmarket Newsstocks NewsPositive on ferrous space; buy SAIL & Tata Steel, says Edelweiss’ Amit Dixit
Positive on ferrous space; buy SAIL & Tata Steel, says Edelweiss’ Amit Dixit
Edelweiss Institutional Equities continues to remain positive on the ferrous metal space, said Amit Dixit, Research Analyst at the investment firm on Tuesday. Dixit expects the second half of the FY21 to be a blockbuster quarter for the sector.
Edelweiss Institutional Equities continues to remain positive on the ferrous metal space, said Amit Dixit, Research Analyst at the investment firm on Tuesday. Dixit expects the second half of the FY21 to be a blockbuster quarter for the sector.
Speaking to CNBC-TV18, Dixit said, “We clearly see that Q1 of calendar year ‘21 (CY21) or Q4 FY21, as we call it, is a free run for steel prices. So Q3 is going to be a blockbuster and Q4 is going to be a dream run.”
Talking about particular stocks, Dixit said, “SAIL and Tata Steel are buys. As far as the NMDC is concerned, because of the royalty surrounding the Donimalai resumption, we have a hold on the stock.”
Strong demand and the shortage of steel globally is driving the prices higher, he added.
“Steel, not only in India but worldwide we are seeing unprecedented shortage and also the iron ore prices globally have gone up. Steel is a global commodity and prices move together in tandem or fall in tandem.”
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(Edited by : Ajay Vaishnav)
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