The global banking crisis has intensified this week as Royal Bank of Scotland Group Plc slumped 67 percent after saying it expects to post a loss of as much as 28 billion pounds ($41 billion) for 2008 and the government got ready to raise its stake in the lender.
Banking is the sector that looks vulnerable in the current scenario as we might see another round of defaults in the international banking sector, which might hurt the banking stocks.ICICI Bank and few oother private banks with international exposures are the ones to avoid for now.
Satyam Computers might see some activity on the upside with the news that Essar group might consider bidding for the company's BPO business.Unitech might see some buying interest after the company renegotiated 75 percent of its debt obligations with the lenders giving the company some breathing room to operate atleast for the next 12 months.