Mehraboon J Irani of Gini Gems Consultants is of the view that the market is now reacting exactly the way it should have reacted for quite some time. It is looking out for opportunities in spaces and companies where there is not much of cloud of any kind. So, companies which have had its own share of controversies, the market is possibly trying to steer clear of them,” he said.

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Talking stocks specific, Irani said, “Knowing what Zee has gone through, I would possibly like to refrain from talking positive or recommending the stock."

On Sun TV, he said, “While there could be value but looking at the way the industry is right now, it is not a stock which I would recommend.”

With regards to the NBFC space, he said, “On the whole, the non-banking financial companies space has had its own share of trouble. Whatever we saw in the recent past with regards to stocks rebounding etc but the problems are not yet over for the space, he said, adding that I still believe that there would be few stocks in this space – which have done very well – may continue to do well and I would like to advise my investors and viewers to possibly go and continue to buy into them despite the fact that seemingly they may look very expensive. Maybe stocks like HDFC, Muthoot Finance, Manappuram Finance, Cholamandalam Investment and Finance Company are the top four."

However, as far as others go they may have their own merits but we need to understand that they have gone through a lot, especially, after the IL&FS fiasco. Some of them could possibly be still suffering from the bruises and something more could possibly come. "In this climate, I would not like to possibly warrant a recommendation or suggest investors to go and buy into them right now,” he further mentioned.

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