Key Points
So, the question again for many of these largecap banking stocks is where is the upside in the near term, given that they are near all-time highs rather than having corrected most..
But, overall, my construct for the larger banks is positive in India...
On technology, results and commentaries are in line with expectations, so there is a definite slowdown and many of the IT analysts are now recognising that the slowdown could actually persist for the following year also, not only this year, but that is not built into the stock prices..
So, just because a company gives a bullish guidance at this stage, I do not think people should be jumping in to buy those stocks because eventually this slowdown is going to catch up with all the companies..
I do not know the reason for such pessimism in the near term, but telecom obviously is a place where the profitability improvements are not happening at the pace people expected because Reliance Jio itself has been resisting taking tariffs up while other players actually wanted to go up...
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