Look at midcap banks: Pashupati Advani

Pashupati Advani of Global Foray told CNBC-TV18, "It is a time to have a relook at – I know that banking index has been hammered. It is a time to relook at midcap banks particularly because that the acquisition targets for the larger banks. Even the midcap government ones. Those also could be up for consolidation and their valuations would be more towards improving the smaller shareholders than the bigger shareholders."

"There is opportunity in the infrastructure base but the infrastructure spending has slowed down again because there is not really anything happening. I have been bullish on cement, I have been bullish on steel, both of which have got hit because of the fact that the projects actually aren’t moving," he said.