Expect measured mining activity in Goa, growth to return to sector: Anish Damania

In a chat with ET Now, Anish Damania, Head-Institutional Equities, IDFC Securities, shares his views on mining sector.

ET Now: What is your sense on Sesa Sterlite? Now that the Supreme Court has lifted the ban on mining in Goa, how beneficiary a news is this and how much more upside can you see in the stock?

Anish Damania: I was just going through what can happen and what we saw is that he Supreme Court has now come out and said that okay, this ban is lifted and they have put certain conditions which people need to meet.

So meeting those conditions will take sometime but the fact that they have lifted the ban itself is a very positive step. So over the next six months, we will start seeing more activity though in a very measured way on that front.

We had seen that over the last two years, mining as a sector has suffered and has shown declines in output across the board. This is something as such bans keep on lifting over next 6 to 12 months and activity starts happening, we start seeing growth coming back into the mining sector.

Maybe not the kind of heady growth which we had seen from 2004-2005 onwards till 2010 but we will definitely see some growth coming up and that will be positive for the IIP.