Monday, 24 November 2008

Sell Sterlite Industries: Joshi

Sharmila Joshi, VP of Systematix Shares & Stocks is of the view that one can sell Sterlite Industries.

Joshi told CNBC-TV18, "Commodities perhaps not my favourite place to be in just now simply because you probably have more to go in terms of the actual prices falling from here. You haven’t seen the Sterlite numbers yet because the product that they are in the scraps copper but normally see it with a lag. So my overall feeling is that if you have to be in commodity play it might be better to get into the ferrous part of the metal play and shift from non-ferrous to ferrous because you do see first consumption coming into steel. So I think from that perspective I think SAIL would look better than Sterlite."

She further added, "As a sector it’s perhaps not my favourite space to be in. So one should quit this sector and perhaps looks at some other sectors or in some other frontline stocks, which to my mind will move faster than a Sterlite will."

Disclosure: Analyst doesn't hold the above stock.

Source: Moneycontrol

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