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Any hike in import duty may trigger trading bounce in Tata, JSW Steel : Parag Thakkar

Date 27-June-2015
Subject Any hike in import duty may trigger trading bounce in Tata, JSW Steel : Parag Thakkar

Parag Thakkar: If there is a talk of increase in the import duty in order to protect your own industries— if there is an increase in duty to say 15 per cent — then there will be a trading bounce.

In such a case, I would not rule out a trading rally in metal names specifically in steel names like Tata SteelBSE -1.55 % and JSW SteelBSE -1.61 %.

But otherwise, until China goes for a big bang stimulus, it is very difficult to see commodity prices going up.

That itself is a problem in my view. So, it is a great thing for India in my view because it will keep inflation down. If the monsoon is also good, then the RBI will have all the reason to drop interest rates.

What I am sensing is that globally most metal companies are highly-leveraged. You do not know from where suddenly some risk will and hit you.

Source : economictimes.indiatimes.com

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