andyn

Indian Banks Still Interesting

Rates will / are coming down rapidly in India since inflation has reached 6% from double digits and is predicted to go down further.
This is good for the Indian economy since its still mostly a domestic one (exports as % of GDP is low in sharp contrast to the others like China, Russia).

Also, there is a lot of development going on in infrastructure which should bode well to bridge over the recessionary tendencies the world over.
The stock market unfortunately was in the hands of foreign institutions and hence suffered along with the rest of the world. But the fundamentals of the Indian companies have not changed much.

IBN, HDB are good vehicles to ride the India story from here.
IBN in particular has been unduely punished with rumours and should return back to the mid-20's from here.