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PSU banks still offer tactical upside; midcaps still justified at premium, says JPMorgans Rajiv Batra

JPMorgans Rajiv Batra says PSU banks remain a top tactical bet despite recent volatility, with strong credit growth, tech upgrades, and policy support set to drive re-rating. FIIs may return as Indias growth, earnings, and reforms strengthen. He expects nominal GDP to rise, supporting 1314% earnings growth and further upside in midcaps if momentum holds.