The recent measures announced by the government in terms of festival advance will lead to positivity with regards to demand creation, which will have an impact on the credit offtake for the corporates.

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The resolution mechanism which has been suggested by the Reserve Bank of India (RBI) and also approved by the various boards of banks is a very pragmatic resolution mechanism. More than the stress, there would be very conscious efforts on the part of the borrower as well as on the part of the banks to get into the resolution process faster.

Dinesh Kumar Khara, Chairman, State Bank of India (SBI)

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I am fundamentally bullish on Kotak Mahindra Bank. Metals are entering a bull cycle and prices will start firming up. The metal story will play out over the next few quarters and deliver good returns. IT is now assuming the leadership in the market. For this reason there is a liking for the top four IT majors in the market place and I wouldn’t be surprised if they continue to hold leadership as far as market is concerned in the next few quarters

Deven Choksey of KRChoksey

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We expect a significantly higher deal trajectory for Infosys going forward. That is because it had managed to crack the largest number of deals in Q1, which was a tough quarter. We like Infosys and HCL Technologies among frontline IT shares, and do not see too much upside in Wipro.

Apurva Prasad, Research Analyst-IT, HDFC Securities

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It was a mixed second quarter performance from Karnataka Bank as net interest margins came in at a 10 quarter high but the bank is still showing some sign of stress because of COVID. We expect the restructured portion of the loan book to be at 1 percent by end of December. Delinquency from the restructured book was not causing concern in the past also and I am confident that going forward this book would continue to perform on expected lines. The bank is trying to focusing more on retail and mid corporate customers. The repayment in moratorium book had commenced from September 1, 2020.

Mahabaleshwara MS, MD & CEO, Karnataka Bank

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SEBI should look at relaxing norms and give flexibility to mutual funds. SEBI will put in some checks and balance to ensure no punting of one large stock. Fund managers need flexibility to beat passive index. I don't see incidence of exposure cap on stocks which mutual funds invests in.

Sandeep Parekh, Founder of Finsec Law Advisors & Member, Sebi's Mutual Fund Advisory Committee

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I am unsure if technology stocks could re-rate from current levels, because it would be hard to justify higher valuations. Most of the positive news has already been factored in for the market and it is hard to justify Nifty’s current valuations. In the metal space, we are bullish on Hindalco and Tata Steel.

For telecom stocks, the market was too confident that it would see a quick resolution in terms of higher prices in ARPUs, but that’s not really happened and Reliance is not relenting in terms of allowing others to raise ARPU. So the market is worried as to when to see ARPU increases which everybody was building in for the current year. There is a no way Vodafone- Idea can survive without large amount of fresh capital or without a big increase in ARPUs.

Sanjeev Prasad, MD & Co-Head of Kotak Institutional Equities

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Almost all of IRB Infra’s projects have witnessed a very strong traffic growth and are now collecting revenues at pre-COVID levels. The company is expected to reach back to the pre-COVID level in Q3 and some year-on-year (YoY) growth is expected in the March quarter. The additional capex from the government side will add more fire to it.

NHAI intends to rollout Rs 98,000 crore worth of projects this year and almost Rs 46,000 crore worth of projects have been awarded this year. IRB Infra ended up winning around 5 percent share of that. The company has added almost Rs 18,000 crore of orders in this fiscal and intends to add another Rs 5,000-7,000 crore of more orders before March.

VD Mhaiskar, Chairman and MD, IRB Infra

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There were stock depletion in some industries like fast-moving consumer goods (FMCG), fast-moving consumer durables (FMCD), they are hiring. But there are many professions which cannot be done with social distancing (restrictions) and they are not back. Labour is not a binding constraint anymore, demand is.

Manish Sabharwal, Chairman of TeamLease Services

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A 3 percent increase in the wholesale food prices is a positive for farmer income. What this shows is that the mandi prices or the farm gate prices have risen faster which is good from the agriculture income perspective.

DK Joshi, Chief Economist, CRISIL

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Hyundai India will be maintaining 30 days of inventory in the festive season. We will be offering cash discounts on entry level cars during the festive season. The current demand was largely pent up in the system and one would have to wait and see how the demand panned out.

Tarun Garg, Dir-Sales, Marketing & Service at Hyundai India

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Most lifestyle retailers are witnessing just 30 to 50 percent of their pre-COVID average sales. But consumer demand has gradually increased at every unlocking stage and festive season is expected to further aid to consumer demand. Eastern India is driving demand for the company. The company’s apparel business is at 55-60 percent of pre-COVID sales and the fabric segment is operating at 60-70 percent of pre-COVID levels. I am seeing fast recovery in the offline fabric space and expect the fabric business to return to profitability in this half of the year.

Ganesh Kumar, COO-Lifestyle Biz of Raymond

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Financials have to do well going forward considering the way the RBI talked about liquidity and helping out the entire sector in terms of softening of yields. I am not in a camp which believes financials will continue to be under stress, if the economy do well clearly they will do well. The faster recovery could happen in ICICI Bank where we have a target price of around Rs 500. With regards to Kotak, since the valuations are bit stretched the stock can go to around Rs 1,450 kind of a level. From an upside perspective, I think ICICI has more upside relative to Kotak Mahindra.

Abhimanyu Sofat of IIFL