Metals underperformer for now, long-term quite positive: BNP Paribas

Gaurang Shah, Asst VP, Geojit BNP Paribas Financial Services in an interview to ET Now said that the entire metal pack have been on the weak side but in the metal pack we like steel and copper a lot. And definitely with the presence of Jindal Steel, Tata Steel possibly JSW even Sterlite Industries in the copper pack we feel that domestic stories is still intact.

If you have been managing to see Jindal Steel, it is also in talks to acquire many other companies. Its in a big expansion mode, what's your take here?

These kind of acquisitions and expansion are more of a long term nature and one needs to possibly wait and see what are the synergies that evolve in case if this company goes ahead with this acquisition that it is planning to do.

Having said that the entire metal pack we have seen almost on the weak side but in the metal pack we like steel and copper a lot.

And definitely with the presence of Jindal Steel, Tata Steel possibly JSW even Sterlite Industries in the copper pack though the stock has actually been a little bit of under performer in the entire pack we feel that domestic stories is still intact you might have fears coming in from China as far as their imports are concerned but we definitely feel that long term is quite positive.