Add Tata Steel, Sesa Sterlite in portfolio: Deven Choksey

Deven Choksey, Managing Director of KR Choksey Shares and Securities recommends adding Tata Steel and Sesa Sterlite in the portfolio with a view of atleast 2-3 years.

Deven Choksey, Managing Director of KR Choksey Shares and Securities told CNBC-TV18, "We are relatively bullish on the ferrous as well as the non-ferrous metal space. Tata Steel  certainly deserves the inclusion into the portfolio, because on one side the energy cost is coming down because of crude oil. On the other side, the finished profile is also coming down but the delta is still maintained. To a greater extent the larger amount of volume growth which is expected to take place in the current financial year is now in the second half of the year which had already started. It is likely to accelerate in the subsequent period of time. This kind of correction in the stock price for whatever reason is a welcome opportunity for long-term investors."

"In fact at higher price we were little skeptical whether we would buy at current levels. However, today at Rs 450 odd levels, if it is sliding down further then it is a buying opportunity. Build the portfolio and stay invested with a target of atleast 2-3 years from now. Tata Steel or Sesa Sterlite  should be added into the portfolio and hold on to the investment if you already have one," he said.

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