TCS role as a good defensive will see more substitution investment into the scrip and unlikely that ITC or HUL woll lose as a result. Infosys in the meantime seems to have found other buyers and even PE investors in India inc are having lesser trouble sitching investments despite mroe active market information and agencies like InGovern Federal Bank’s stake purchase by ChrysCap however is not a n immediate rub on to the stock as the bigger ones continue to smother the market sentiment when they buy a quasi promoter stake in such companies.
JPASSOCIATES, IDFC, ITC, ICICIBANK And POWERGRID are all ready to ‘recover’ and groww back claws on those who wrought havoc on the weaklings of the banknifty from Union Bank and Can Bank to Central Bank and PNB. Only PNB and BOB might recover ground with SBI in the ensuing rally while HDFCBANK, HDFC and YESBANK rocket back to a positive slope near their all time highs and raring to go.
AXISBANK will continue to be the deciding stock for the modicum of recovery for now.