Limited downside in Nalco, Hindalco: Tulsian

Investment Advisor SP Tulsian is of the view that there is a limited downside in Nalco, Hindalco and Sterlite from current level. Tulsian told CNBC-TV18, "We have seen LME prices going up for all the metals whether they are lead, zinc, copper, aluminum but the price rise has come swiftly or not in proportion to the rise, which we are seeing. In Aluminum the rise was expected and we have been seeing gradual buildup, whether you take case of Hindalco or Nalco or a Sterlite because the inventories have started depleting on LME which used to be over three million tonnes. So this was all expected but the swift rise which we have seen in last one week or so was not justifying the kind of rise which we have seen and if you see the correction it has not been happening so much in case of Hindustan Zinc because of increase of prices of lead and zinc has not reflected to the price of that stock. So if you see the correction in Sterlite or maybe in Nalco or Hindalco, such correction is justified but from here on the further downside is very limited." source：www.moneycontrol.com