SAIL is the new GAIL? Sanjiv Bhasin’s 3 dark horse picks in metal pack

economictimes.indiatimes.com:

Sanjiv Bhasin, Director, IIFL Securities, says they remain extremely bullish on this space. There will be upgrades, downgrades at new highs. Who thought Tata Steel will go to Rs 165 from Rs 100 in the last six months and right now, SAIL is the new GAIL. So, one can imagine the left-out feeling.
Bhasin says: “We continue to be very optimistic. Our dark horse play there continues to be Nalco, JSW and Vedanta.”

Over the last week, the metal pack had a very solid run. But today, CLSA has downgraded JSW Steel as well as Tata Steel. Do you think they are a bit too conservative and early in downgrading or do you think the rally has played out?
Sanjiv Bhasin: Since a couple of weeks ago, I have been saying that the dollar is headed lower and if China comes back, we will see metals do well. We have seen that there has been no capacity addition. And I think the way nickel, copper, all both ferrous and non-ferrous are performing, this could be a very sweet time for metals, particularly commodities, particularly metals. And we remain extremely bullish on this space.

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So, there will be upgrades, downgrades at new highs. Who thought Tata Steel will go to Rs 165 from Rs 100 in the last six months and I think right now, SAIL is the new GAIL. So, one can imagine the left-out feeling.