Bullish on private sector banks: G Chokkalingam, Centrum Wealth Management

G Chokkalingam, Executive Director & CIO, Centrum Wealth Management, talks to ET Now on banking stocks.

ET Now: What did you make of the numbers, Sesa Goa, which came out with the numbers or some of the banking names as well, which has pretty much been in line, but Sesa Goa has reacted quite significantly to the numbers?

G Chokkalingam: Banking it was on expected lines. We have been optimistic always on the private sector banks. Most of the private sector banks have done very well. They would continue to do well.

ET Now: I was especially talking about the results that came out today, particularly Bank of India and Canara Bank as also Sesa Goa?

G Chokkalingam: We are not very comfortable with these two PSU banks. We are quite bullish only on private sector banks, so we stayed away from these two banks. We continue to stay away from these two banks. As far as Sesa Goa is concerned, we need to understand the fact that it is a holding company of Cairn India. We believe that a Cairn India will do extremely well because according to us the cheap oil is gone. Oil prices would continue to remain firm and Sesa Goa would be the major beneficiary. Apart from that, we also expect all the environmental issues governing the mining should recede in the calendar year. Recently the Prime Minister office also has given a direction to the environment ministry to speed up the issues regarding the environment problems, so therefore, we would continue to remain optimistic on Sesa Goa.