I expect Tata Steel margins to improve in Q1FY19, said Tarang Bhanushali, IIFL Wealth Management, "The margins will be higher in Q1 and I believe that the stock is well poised to move upwards.”

“We have a buy recommendation on Tata Steel with a target price of Rs 835,” he said.

Bhanushali said the valuations of JSW Steel are superior to what we have seen for the rest of the steel players, like Tata Steel and Steel Authority of India (SAIL).

He further said upside in JSW Steel can be capped in comparison to other ferrous stocks.

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