Banking stocks, including top ones like State Bank of India, ICICI Bank, HDFC Bank, Bank of Baroda and Bank of India, among others, have fallen sharply in the last one month.
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While cost pressures could partly offset the expected gains, given the currency hedging by companies the gains will not accrue immediately.
Given the strong prospects in the business, analysts expect the company to clock healthy growth of 15-20 per cent, going ahead.
Good growth prospects and reasonable valuations will help select mid-caps deliver superior returns, say experts.
Analysts believe there could be some pressure on banks' margins in the interim.
While TCS and HCL Tech remain the favourites of most analysts, the latter believe there could be more pain left for Infosys' stock.
While most analysts had valued Reliance Capital's stake in Reliance Life Insurance at Rs. 285 per share, or about Rs. 7,000 crore, this deal values it at Rs. 468 per share of Reliance Capital, which is a huge premium.
While iGate leaps into the $1-billion club, the combined entity will have a larger offering, better pricing power and scope to improve margins. Nasdaq-listed software firm iGate's acquisition of Patni Computer Systems was received positively by the market. On a day when the Sensex was down 2.4 per cent, the Patni scrip closed 0.8 per cent higher at Rs 463.85.
Rising competition and costs are likely to keep profitability of brokerage firms under pressure, leading to consolidation.
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