Use rallies in metal space to book profits: Gaurang Shah

In a chat with ET Now, Gaurang Shah, VP, Geojit BNP Paribas Financial Services shares his opinions on Tata Steel. Excerpts:

ET Now: What is the call on Tata Steel; good set of earnings, whole lot of upgrades but how much more headroom to go for the stock?
Gaurang Shah: As a brokerage house, we have been a little bit underweight on the entire metals pack. The street has been quite impressed with the numbers that Tata Steel has thrown up but the question is whether these numbers will translate into an incremental upside rally in Tata Steel. Our belief is that that could be limited. So again, whether it is Tata Steel, Hindalco, Sterlite, JSW Steel, in the entire metals pack, rallies should be used to lighten up the position and I do not think anything much has changed to take a positive view on the entire metals pack as of now.