“Marcellus Investment Managers is becoming constructive on the market, having reduced smallcap cash from 40% to 13% as the recent correction brings valuations back to earth. They are selectively deploying into structurally sound but temporarily mispriced names, viewing current crises as prime buying opportunities, especially as the market shifts to rewarding genuine stock-picking. Gubbi is particularly bullish on HDFC Bank as a long-term buy at current levels, seeing its 15-18% correction as an attractive entry point given its strong asset quality and consistent earnings, expecting a rotation back to quality private banks over cyclical PSU banks. A key risk is a prolonged West Asia conflict leading to a full-blown energy crisis, which could deteriorate India's macro fundamentals.”