Don't enter metal stocks at this stage: Sudip Bandyopadhyay

In a chat with ET Now, Sudip Bandyopadhyay, President, Destimoney Securities shares his views on metal stocks.

ET Now: If you were an investor with the three to six month horizon or probably longer what would you do with the metal names particularly the steel stocks?

Sudip Bandyopadhyay: Well if I have three to six month horizon in mind, I will definitely not enter metal stocks at this stage. I have been very very cautious in the entire metal space and they have run up quite substantially and I would not be surprised if they continue to hover in this kind of range with sideways movement and even if this start coming down. So I am definitely not a buyer in the metals stocks at this stage.


ET Now: What are you doing now for the short term, I know I am pushing you in a corner but let me do that?

Sudip Bandyopadhyay: Well, the short term I am definitely bullish on ITC. I am definitely bullish on some of the infrastructure stocks like Larsen & Toubro but I am not definitely buying metal stocks. I have a huge concern on entire metal pack. The figures which are emanating from China, yes they are better than what they were coming out few quarters back but still a long way to go before the wild bull run in metals what we saw a few years back can be repeated and at the domestic metal industry remember it is one industry which is perfectly correlated with Chinese demand so I am extremely cautious on the metals, I would not like to bet on metals.