Tata Steel is a good bet to hold on to: Siddharth Sedani

ET Now spoke to Siddharth Sedani, Sr Manager (Portfolio Management Services), Microsec Capital Ltd, on his stock recommendations.

ET Now: What is your call on Tata Steel at this point in time?

Siddharth Sedani: Tata Steel is a good bet to hold on to, good investment to keep into the portfolio because of certain reasons. They have a good amount of expansion plans of Rs 15,000 crores for this financial year but the way the markets are, assuming a steel price hike, maybe that is possible.

But cost push pressures must also be prevailing in the sector because Rio Tinto, BHP Billiton are all planning to raise their mineral costs higher. So looking at those scenarios, Tata Steel is more or less backward integrated but one should hold on with the stock and not start jump in and buy right now.