Upbeat on Steel Stocks.
The steel stocks again looking very attractive as per the current valuation. The price of steel has been recovered well from Rs 3300 (dec) to Rs 3850. We can see the production of many steel companies has been increased as China minimize the capacity due to pollution issues. So Indian companies will be in the best position to get the benefit of steel price increase.
As the market is keep moving down and NIFTY mid cap crashed, many good companies are trading at single digit PE which has the capacity to grow 2x to 3x in 2 years of time.
Ok- What will be the best stock to Pick on Steel?
Just Watch Mahamaya Steel now at Rs 133.