We are bullish on metals and materials: TS Anantakrishnan

ET Now spoke to TS Anantakrishnan, Head, Prime Wealth Management, on his views on the metal pack.

What are your recommendations for the metals pack? There is slew of upgrades that are coming in not just for the steel stocks, but even for stocks like Hindalco and Nalco. Would you play for the momentum in the short or the medium term?

TS Anantakrishnan: Yes, from a stock like Hindalco or Jindal Steel & Power or for that matter even the pipe companies, whether you look at Welspun Gujarat or Jindal Saw, we are quite bullish.

We think the private capex will start to build up. You are going to see huge capex projects both from government and from the private sector kicking in the second half, so we are quite bullish on metals and materials overall.

If you recall, we had Jindal Steel & Power in our portfolio about two-three months back. We still like the stock and think there may be a better entry point for one to get in. Obviously, the near term trigger being the IPO listing of the power subsidiary but other than that, from an overall metals or metal ancillary plays, we like Jindal Saw at this point.