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VVLN Shastri of Firstcall India Equity Advisor is of the view that one can hold Tata Steel.

Shastri told CNBC-TV18, "One can hold on Tata Steel and look for buying at correction and on every decline. The bottom line performance from the company’s side for the 3rd quarter was not impressive because it has shown a flattish trend on the part of the bottom line. On the top line front though it could show good performance, I think it’s due to increased costs. Unless the company plans for cost cutting, the profit margin increase going forward will be under pressure."

He further added, "If somebody is looking at an angle of buying, I think they should look for a small correction to come and make the multiple attractive at a level of Rs 18. So any correction at a level of Rs 650, one should look for re-entering this stock. If somebody is holding on to this stock, I don’t forsee any problem in holding it further and continue to hold. But any small corrections, then they can be used for buying also."

Disclosure: Analyst doesn't hold the above stock but his clients may hold positions in it.

Source: Moneycontrol.com