Buy Hindalco Industries on dips

Gaurang Shah of Geojit Financial Services is of the view that one can buy Hindalco Industries on dips.

Shah told CNBC-TV18, "I would take a contrarian call on Hindalco Industries and in fact I would stay invested at any fall that comes into whether it is aluminium, copper, steel or even zinc. My view is that the prices should firm up going forward and I would use this downside as a buy call. I would not get worried about from my investment in slightly longer-term, something like six-eight-twelve months, I would not get concerned with this kind of a downside."

He further added, "We have always seen that the commodity prices on the LME has gone through a volatile session and it will remain to be so far sometime but as far as the long-term scenario is concerned I am quite comfortable and I will buy it on dips."