Tata Steel Ltd. and Jindal Steel & Power Ltd. are the top picks among metal sector stocks for Aditya Welekar.
Welekar sees potential for further valuation in Tata Steel and Jindal Steel and Power, while SAIL and JSW Steel's valuations are considered almost full.
Amid global uncertainties, Welekar is optimistic about Vedanta due to factors like aluminium LME prices, silver prices, and oil prices benefiting the company.
Positive outlook for steel companies in Q1 expected with margin expansion due to safeguard duty and lower coking coal prices; production cuts in China and government decisions on safeguard duty extension will influence Indian steel stocks.