Tata Steel Long Products has seen a decent correction from the recent peak, down about close to 20 percent even though the business prospects continue to look up. What gives comfort to investors is that the stock comes from the Tata Group’s stable. There is a debt reduction plan too that is underway and also the company's core business is ramping up rather well. On top of it, they will be merging a value-accretive business of Tata Metaliks into this entity.

Watch the accompanying video of CNBC-TV18’s Nigel D’Souza for more details.

(Edited by : Ajay Vaishnav)