Stocks like CIL or Sesa Goa or Hindustan Zinc are good buys: Sonam Udasi, IDBI Capital

All said and done, we need these mines to work. We are a deficit nation, so I do not know how long this can continue.

What did you make of the kind of news that came up for a lot of the mining companies? There is something of Coal India that came in today, not a major EPS impact seen but we have seen Gujarat NRE Coke and a few others, Sesa Goa for example being involved in some bit of a controversy or the other. What’s the sense here for the mining space?

My own sense is that a lot of negatives will sort of bottom out. In the sense that a lot of these things are in the hands of the government and as the year goes by and there is pressure from the interest groups and the corporate India. All said and done, we need these mines to work. We are a deficit nation, so I do not know how long this can continue.

Our take really would be that the stocks like Coal India or Sesa Goa or Hindustan Zinc are good buys, have a lot of resources, so any dips that you get on these sort of news particularly, you can look at accumulating from that point of view because we think that over six months or eight months timeframe, this has to clear out.