US yields and Indian midcaps are experiencing a shift in the market. There are now three rate cuts, softening yields, and a potential correction in the PSU basket. PSUs have seen under ownership and outperformance, but there is extreme overbought conditions. In terms of earnings, Ashok Leyland and Bharti Airtel have shown strong numbers, while some agrochem and specialty players are in an accumulation zone.
Shares of SpiceJet have surged about 190 per cent from its 52-week low at 22.65 on May 23, 2023, while it has surged more than 115 per cent in the last six months.
"Among the creditors, a large public sector bank which is a key creditor wants more time since the approval to extend the process needs to be ratified by its board. So voting lines are still open for everyone, though some of the creditors have already voted," said a person aware of the process.