Why are largecap bank stocks down and IT stocks up now? Digant Haria explains

economictimes.indiatimes.com:

Digant Haria, Co-Founder, GreenEdge Wealth, says “the whole rural recovery theme and the recovery of the entry level segments gets pushed away till next year. Unfortunately, we will see more of the same in the next few quarters as well. And yes, Maruti is gaining back its lost market share in the hatchback and the premium segments. This particular segment in the auto space should do well –premium cars and premium scooters.”

How are minority shareholders going to react to Uday Kotak stepping down because Kotak Bank has really been an underperformer of late?
This has been a discussion point since the last six-seven months that Uday's term will expire in December and who next and what next. It is not just that it is a total surprise; it was somewhat expected that he would have had to step down. The bigger question would be that the brand Kotak and Uday were just one and now with Uday stepping down and professional management taking over, whether it is an internal candidate that is selected by the RBI or whether RBI tells them to have an external candidate to maintain independence, it will be a more important decision that will drive the stock in the near term.

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But having said that, Kotak is not the only underperformer. All the good quality financial names – be it HDFC Bank or Kotak Bank, to some extent even Bajaj Finance and SBI – have been underperforming for the last year and Kotak and HDFC for more than two years. So this market should be still waiting for whether RBI allows