Start buying metal stocks on dips: Prakash Diwan, Networth Stock Broking

In a chat with ET Now, Prakash Diwan, Head - Institutional Business, Networth Stock Broking, shares his stock ideas.

What is your call on the metals pack?

Given the global headwinds for commodities, we have seen a little bit of reaction. In fact quite a few short positions have been built up in most of the leading metal counters, but I would reckon given another 8% to 12% kind of a cut in the current market prices for these stocks, they could start coming up in the value buying zone more from the fact that the demand for metals and for the goods of these stocks is going to be immensely strong going forward once things pick up on the ground. So, the second half is going to be much better once you have the capex cycle also taking off. So you start looking at buying these at an 8% to 10-12% kind of a reduction from here.